Question

JW Ltd. was a company manufacturing geysers. As a part of its long term goal for expansion, the company decided to identify the opportunity in rural areas. Initial plan was rolled out for Bhiwani village in Haryana. Since the village did not have regular supply of electricity, the company decided to manufacture solar geysers. The core team consisting of the Regional Manager, Accountant and the Marketing Manager was taken from the Head Office and the remaining employees were selected from the village and neighbourhood areas.
At the time of preparation of financial statements, the accountant of the company fell sick and the company deputed a junior accountant temporarily from the village for two months.
The Balance Sheet was prepared by the junior accountant temporarily from the village for two months.
The Balance Sheet prepared by the junior accountant showed the following items against the Major Heads and Sub-heads mentioned which were not as per Schedule III of the Companies Act, 2013

Items	Major Head/Sub-Head
Loose Tools	Trade Receivables
Cheques in Hand	Current Investments
Term Loan from Bank	Other Long-term Liabilities
Computer Software	Tangible Fixed Assets

Identify any two values that the company wants to communicate to the society. Also present the above items under the correct major heads and sub-heads as per Schedule III of Companies Act, 2013.

Answer 1

Items	Major Head	Sub Head
Loose Tools	Current assets	Inventories
Cheques in Hand	Current assets	Cash and Cash Equivalents
Term Loan from Bank	Non-current liabilities	Long-term borrowing
Computer Software	Fixed assets	Intangible assets

Values:

(a) Development of rural areas

(b) Using environment friendly methods and starting modern techniques instead of conventional method.