Under what headings of balance sheet as per revised shedule VI are the following categorized
Lease hold,railway sliding, live stock , preliminary expenses, share issue expenses and development expenditure.

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Solution

Dear Student,

Asset Main head Sub-head

Leasehold Fixed Asset Tangible Asset

Railway Sliding Fixed Asset Tangible Asset

Live Stock Fixed Asset Tangible Asset

Preliminary Expenses Current Asset Other Current Asset

Share Issue Expenses Current Asset Other Current Asset

Development Expenditure Fixed Asset Capital Work-in-Progress

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Similar questions

Q. As per Schedule VI of the Companies Act, 1956, under which of the following heads is 'Premium on issue of Preference Shares' shown in the Balance Sheet of a company?

Show the following items in the balance sheet as per the provisions of the Companies Act, 2013 in Schedule III:

Particulars	Rs.	Particulars	Rs.
Preliminary Expenses	2,40,000	Good will	30,000
Discount on issue of shares	20,000	Loose tools	12,000
10% Debentures	2,00,000	Motor Vehicles	4,75,000
Stock in Trade	1,40,000	Provision for tax	16,000
Cash at bank	1,35,000
Bills receivable	1,20,000

Q. Under which major sub-headings the following items will be placed in the Balance Sheet of a company as per revised Schedule VI, Part-I of the Companies Act, 1956:
(i) Accrued Incomes
(ii) Loose Tools
(iii) Provision for employees benefits
(iv) Unpaid dividend
(v) Short-term loans
(vi) Long-term loans.

Under which sub-headings will the following items be shown in the Balance Sheet of a company as per Revised Schedule VI, Part of the Companies Act, 1956 (now Schedule III, Part I of the Companies Act, 2013).
(i) Long-term loan (ii) Capital Redemption Reserve.
(iii) Short-term provision (iv) Goodwill.
(v) Provision for warranties. (vi) Brand/Trade-marks.

PRACTICAL PROBLEMS

(Call in arrears and Balance Sheet)

The Alfo Ltd. made an issue of 10,000 shares of Rs 20 each payable as follows-

Application	:	Rs 5	Allotment	:	Rs 10
First Call	:	Rs 2	Final Call	:	Rs 3

The company received applications for 15,000 shares of which applications for 5,000 shares were rejected and money refunded. The directors made all the calls. One share holders, holding 100 shares failed to pay first and final call. The expenses of issue amounted to Rs 5,000

Pass journal entries and show the Balance Sheet.

Note: Expenses on issue should be shown as asset. Every year certain amount of expenses should be charged to P&L A/c.

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Asset	Main head	Sub-head
Leasehold	Fixed Asset	Tangible Asset
Railway Sliding	Fixed Asset	Tangible Asset
Live Stock	Fixed Asset	Tangible Asset
Preliminary Expenses	Current Asset	Other Current Asset
Share Issue Expenses	Current Asset	Other Current Asset
Development Expenditure	Fixed Asset	Capital Work-in-Progress

Under what headings of balance sheet as per revised shedule VI are the following categorizedLease hold,railway sliding, live stock , preliminary expenses, share issue expenses and development expenditure.

Under what headings of balance sheet as per revised shedule VI are the following categorized
Lease hold,railway sliding, live stock , preliminary expenses, share issue expenses and development expenditure.