Question

Under which sub-headings will the following items be shown in the Balance Sheet of a company as per Revised Schedule VI, Part of the Companies Act, 1956 (now Schedule III, Part I of the Companies Act, 2013).
(i) Long-term loan (ii) Capital Redemption Reserve.
(iii) Short-term provision (iv) Goodwill.
(v) Provision for warranties. (vi) Brand/Trade-marks.

Answer 1

$$\begin{array}{ccc}\text{Particulars}& \text{Major heading}& \text{Sub-heading}\\ \text{(i) Long term loan}& \text{Non-current liabilities}& \text{Long term borrowings}\\ \text{(ii) Capital Redemption Reserve}& \text{Shareholer's funds}& \text{Reserves and surplus}\\ \text{(iii) Short term Provision}& \text{Current liabilities}& \underset{–}{}\\ \text{(iv) Goodwill}& \text{Non-current assets}& \text{Fixed assets -Intangible}\\ \text{(v) Provision for warranties}& \text{Non-current assets}& \text{Long term provision}\\ \text{(vi) Brand/Trade marks}& \text{Non-current assets}& \text{Fixed assets-Intangible}\end{array}$$