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?

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Solution

ITEMS HEAD SUB-HEAD

Unamortised Loss on Issue of
Debentures (To be written off
after 12 months from date of
Balance sheet) Non-Current Assets Other Non-Current Assets

10% Debentures Non Current Liabilities Long-term Borrowings

Stock-in-Trade Current Assets Inventories

Cash at Bank Current Assets Cash and Cash equivalents

Bills Receivable Current Assets Trade Receivables

Goodwill Non-Current Assets Fixed Assets (Intangible Assets)

Loose Tools Current Assets Inventories

Truck Non-Current Assets Fixed Assets (Tangible Assets)

Provision for Tax Current Liabilities Short term Provisions

Sundry Creditors Current Liabilities Trade Payables

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Q. 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?

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.

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.

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

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(iv) Matured Debentures

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(vii) Provision for Provident Fund

(viii) Bills Payable

(ix) Public Deposits

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

(i) Provision for Tax.	(ii) Loan payable on demand.
(iii) Computer and related equipment.	(iv) Goods acquired for trading

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(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?

ITEMS	HEAD	SUB-HEAD
Unamortised Loss on Issue of Debentures (To be written off after 12 months from date of Balance sheet)	Non-Current Assets	Other Non-Current Assets
10% Debentures	Non Current Liabilities	Long-term Borrowings
Stock-in-Trade	Current Assets	Inventories
Cash at Bank	Current Assets	Cash and Cash equivalents
Bills Receivable	Current Assets	Trade Receivables
Goodwill	Non-Current Assets	Fixed Assets (Intangible Assets)
Loose Tools	Current Assets	Inventories
Truck	Non-Current Assets	Fixed Assets (Tangible Assets)
Provision for Tax	Current Liabilities	Short term Provisions
Sundry Creditors	Current Liabilities	Trade Payables