Question

Under which major head and sub-heads does the following items be placed in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013.

(i) Cash credit.

(ii) 10 years loan obtained from Financial Institutions.

(iii) Debenture Sinking Fund.

(iv) Matured Debentures.

Answer 1

$\begin{array}{ccc}\text{Items}& \text{Major Heading}& \text{Sub-heading}\\ \text{Cash Credit}& \text{Current Liabilities}& \text{Short-term Borrowings}\\ \text{10 years loan from financial institu-}& \text{Non-current Liabilities}& \text{Long-term Borrowings}\\ \text{tions}& & \\ \text{Debenture Sinking Fund}& \text{Shareholders' Funds}& \text{Reserve and Surplus}\\ \text{Matured Debentures}& \text{Current Liabilities}& \text{Other Current Liabilities}\end{array}$