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Standard XII

Accountancy

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Under which m...

Question

Under which main head and sub-head of Equity and Liabilities part of the Balance Sheet are the following items classified or shown:

(i) Bonds; (ii) Debentures

(iii) Public Deposits; (iv) Capital Redemption Reserve;

(v) Forfeited Shares Account: (vi) Sundry Creditors; and

(vii) Interest Accrued but Not Due on Debentures?

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Solution

Items Main head Sub-head

Bonds Non-Current Liabilities Long Term Borrowings

Debentures Non-Current Liabilities Long Term Borrowings

Deposits Non-Current Liabilities Long Term Borrowings

Capital redemption Reserve Shareholder’s Funds Reserves and Surplus

Share Forfeiture Account Shareholder’s Funds Subscribed Capital under Share Capital

Sundry Creditors Current Liabilities Trade Payables

Interest Accrued but not due on
Debentures Current Liabilities Other Current Liabilities

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(i) Bonds;	(ii) Debentures
(iii) Public Deposits;	(iv) Capital Redemption Reserve;
(v) Forfeited Shares Account:	(vi) Sundry Creditors; and
(vii) Interest Accrued but Not Due on Debentures?

Items	Main head	Sub-head
Bonds	Non-Current Liabilities	Long Term Borrowings
Debentures	Non-Current Liabilities	Long Term Borrowings
Deposits	Non-Current Liabilities	Long Term Borrowings
Capital redemption Reserve	Shareholder’s Funds	Reserves and Surplus
Share Forfeiture Account	Shareholder’s Funds	Subscribed Capital under Share Capital
Sundry Creditors	Current Liabilities	Trade Payables
Interest Accrued but not due on Debentures	Current Liabilities	Other Current Liabilities