Under which heads the following items are classified or shown on the Assets part of the Balance Sheet of a copany: (i) Loose Tools; (ii) Bills Receivable; (iii) Sundry Debtors: and (iv) Advances Recoverable in Cash?

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Solution

Items Main head Sub-head

Loose Tools Current Assets Inventories

Bills Receivable Current Assets Trade Receivables

Sundry Debtors Current Assets Trade Receivables

Advance Recoverable in Cash Current Assets Short-term Loans and Advances

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Similar questions

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

Q. Under which heads the following items on the Assets part of the Balance Sheet of a company will be presented?

(i) Sundry Debtors;	(ii) Patents and Trademarks;	(iii) Shares in Quoted Companies:
(iv) Advances recoverable in cash;	(v) Prepaid Insurance; and	(vi) Work-in-Progress (Machinery)?

Q. Under which of the major heads will the following items be shown while preparing Balance Sheet of a company, as per Schedule III of the Companies Act, 2013:

(i) Unamortised Loss on Issue of Debentures (To be written off after 12 months from the date of Balance Sheet);
(ii) 10% Debentures;	(iii) Stock-in-Trade;	(iv) Cash at Bank;
(v) Bills Receivable;	(vi) Goodwill;	(vii) Loose Tools;
(viii) Truck;	(ix) Provision for Tax; and	(x) Sundry Creditors?

Under which heads and sub-heads following items will appear in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013 :

(i) Debentures. (ii) Loose tools.

(iii) Calls-in-Advance. (iv) Stores and spares.

(v) Proposed dividend. (vi) Computer software.

Q. State under which major headings and sub-headings the following items will be presented in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013:
(i) Capital Reserve;
(ii) Calls-in-Advance;
(iii) Loose Tools; and
(iv) Bank overdraft.

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Items	Main head	Sub-head
Loose Tools	Current Assets	Inventories
Bills Receivable	Current Assets	Trade Receivables
Sundry Debtors	Current Assets	Trade Receivables
Advance Recoverable in Cash	Current Assets	Short-term Loans and Advances

Under which heads the following items are classified or shown on the Assets part of the Balance Sheet of a copany: (i) Loose Tools; (ii) Bills Receivable; (iii) Sundry Debtors: and (iv) Advances Recoverable in Cash?

Items Main head Sub-head Loose Tools Current Assets Inventories Bills Receivable Current Assets Trade Receivables Sundry Debtors Current Assets Trade Receivables Advance Recoverable in Cash Current Assets Short-term Loans and Advances

Items Main head Sub-head

Loose Tools Current Assets Inventories

Bills Receivable Current Assets Trade Receivables

Sundry Debtors Current Assets Trade Receivables

Advance Recoverable in Cash Current Assets Short-term Loans and Advances