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Question

How are the following items shown while preparing Balance Sheet of a company:
(i) Surplus, i.e., Balance in Statement of Profit and Loss (Dr.);
(ii) Interest accrued and due on Debentures;
(iii) Computer Software under development;
(iv) Interest accrued on Investment?

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Solution

ITEMS MAJOR HEAD SUB-HEAD
Surplus, i.e. Balance in Statement
of Profit and Loss (Dr.)
Shareholder’s Funds Reserves and Surplus (as
negative figure)
Interest accrued and due on
debentures
Current Liabilities Other Current Liabilities
Computer Software under
development
Non-current Assets Fixed Assets (Intangible Assets
under development)
Interest accrued on Investments Current Assets Other Current Assets

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