Under which line item of the financial statements following items will be shown:
(i) Sales; (ii) Loss on Sale of Vehicle; (iii) Debentures; (iv) Unamortised Loss on Issue of Debentures (to be written off within 12 months of the date of Balance Sheet); (v) Encashable Leave Payable at the Time of Retirement; (vi) Tax Reserve; (vii) Carriage on Purchases of Stock-in-Trade; and (viii) Telephone and Internet Expenses?

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Solution

Items Line Items of Financial Statements

Sales Revenue from Operations

Loss on Sale of Vehicle Other Expenses

Debentures Long Term Borrowings

Unamortised Loss on Issue of Debentures (to be
written off within 12 months of the date of
Balance Sheet) Other Non-Current Assets

Encashable Leave Payable at the time of
Retirement Long Term Provisions

Tax Reserve Reserves and Surplus

Carriage on Purchase of Stock-in Trade Other Expenses

Telephone and Internet expenses Other Expenses

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Similar questions

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?

How would you disclose the following items in the Balance Sheet of a Company :

(i) Share Issue Expenses (to be written off in next 12 months)

(ii) Share Issue Expenses (to be written off after 12 months)

(iii) Premium on Redemption of Debentures

(iv) Debit balance of Statement of Profit and Loss

(v) Loan from Bank

(vi) Loan repayable on demand

(vii) Shares in S.B.I.

(viii) Investments

(ix) Interest Accrued on Investments

(x) Guarantees given by the Company

Q. Under which line item (major head) of the Statement of Profit and Loss of non-financial company will the following be shown:

(i) Sale of Goods; (ii) Revenue from Services Rendered; (iii) Interest Earned; (iv) Gain (Profit) on Sale of Assets; (v) Purchases of Stock-in-Trade; (vi) Salaries and Wages; (vii) Interest paid to Bank; (viii) Carriage Outward?

Q. Under which line item (major head) of the Statement of Profit and Loss of a financial company will the following be shown:

(i) Interest on Loans Given: (ii) Gain (Profit) on Sale of Securities; (iii) Loss on Sale of Fixed Assets; (iv) Interest paid on Deposits; (v) Depreciation on Computers; (vi) Goodwill Written off; (vii) Commission paid for Deposit Mobilisation; and (viii) Repairs Expenses?

Identify which of the following items will be shown in the Note to Accounts on Other Expenses? (i) Salaries; (ii) Postage Expenses; (iii) Telephone and Internet Expenses; (iv) Rent for warehouse; (v) Carriage Inwards; (vi) Depreciation on computers; (vii) Computer Software amortised; (viii) Computer Hiring Charges; (ix) Audit fee; (x) Bonus.

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Items	Line Items of Financial Statements
Sales	Revenue from Operations
Loss on Sale of Vehicle	Other Expenses
Debentures	Long Term Borrowings
Unamortised Loss on Issue of Debentures (to be written off within 12 months of the date of Balance Sheet)	Other Non-Current Assets
Encashable Leave Payable at the time of Retirement	Long Term Provisions
Tax Reserve	Reserves and Surplus
Carriage on Purchase of Stock-in Trade	Other Expenses
Telephone and Internet expenses	Other Expenses