Question

Under what heads the following items on the Assets side of the Balance Sheet of a Company will be presented :

(i) Sundry Debtors

(ii) Patents and Trade Marks

(iii) Shares in D.C.M. Limited

(iv) Bills Receivable

(v) Advances recoverable in cash within the operating cycle

(vi) Prepaid Insurance

(vii) Work-in-Progress

Answer 1

$\begin{array}{cccc}\text{S.NO.}& \text{Items}& \text{Heading}& \text{Sub-heading}\\ & & & \text{(if any)}\\ \text{(i)}& \text{Sundry Debtors}& \text{Current Assets}& \text{Trade Receivables}\\ \text{(ii)}& \text{Patents and Trade Marks}& \text{Non-Current Assets}& \text{Fixed Assets-}\\ & & & \text{Intangible Assets}\\ \text{(iii)}& \text{Shares in D.C.M. Ltd.}& \text{Non-Current Assets}& \text{Non-Current}\\ & & & \text{Investments}\\ \text{(iv)}& \text{Bills Receivable}& \text{Current Assets}& \text{Trade Receivables}\\ \text{(v)}& \text{Advances Recoverable in Cash}& \text{Current Assets}& \text{'Short-term Loans}\\ & \text{within the operating cycle}& & \text{and Advances'}\\ \text{(vi)}& \text{Prepaid Insurance}& \text{Current Assets}& \text{Other Current Assets}\\ \text{(vii)}& \text{Work-in-progress}& \text{Current Assets}& \text{Inventories}\end{array}$