Question

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

(i) Proposed Dividend

(ii) Unpaid/Unclaimed Dividend

(iii) Debentures

(iv) Matured Debentures

(v) Calls in Arrears

(vi) Sinking Fund

(vii) Provision for Provident Fund

(viii) Bills Payable

(ix) Public Deposits

Answer 1

$\begin{array}{cccc}\text{Sr. No.}& \text{Items}& \text{Heading}& \text{Sub-heading}\\ & & & \text{(if any)}\\ \text{(i)}& \text{Proposed Dividend}& \text{Contigent Liabilities in}& \\ & & \text{notes to accounts.}& \\ \text{(ii)}& \text{Unpaid/Unclaimed}& \text{Current Liabilities}& \text{'Other Current Liabilities'}\\ & \text{Dividend}& & \\ \text{(iii)}& \text{Debentures}& \text{Non-Current Liabilities}& \text{Long-term Borrowings}\\ \text{iv}& \text{Matured Debentres}& \text{Current Liabilities}& \text{Other Current Liabilities}\\ \text{(v)}& \text{Calls in Arrears}& \text{Shareholder's Funds}& \text{It will be deducted from}\\ & & & \text{Subscribed but not fully}\\ & & & \text{paid Capital}\\ \text{(vi)}& \text{Sinking Fund}& \text{Shareholder's Funds}& \text{Reserve and Surplus}\\ \text{(vii)}& \text{Provision for Provident Fund}& \text{Non-Current Liabilities}& \text{'Long - term Provisions'}\\ \text{(viii)}& \text{Bills Payable}& \text{Current Liabilities}& \text{Trade Payables}\\ \text{(ix)}& \text{Public Deposits}& \text{Non-Current Liabilities}& \text{Long term Borrowings}\end{array}$

Attention :
1. Sundry Debtors and Bills Receivable will be termed 'Trade Receivables'.
2. Sundry Creditors and Bills Payable will be termed 'Trade Payables'.