Question

Under which Major Headings and Sub-Headings will the following items be presented in the Balance Sheet of a Company as Per Schedule III, Part I of the Companies Act , 2013 >

(i) Interest Accrued and Due on Debentures.

(ii) Loose Tools.

(iii) Accrued Interest on Calls in Advance.

(iv) Interest Due on Calls in Arrears

(v) Trademarks.

(vi) Premium on Redemption of Debentures.

(vii) Plant and Machinery.

(viii) Patents.

Answer 1

Balance Sheet of a Company as Per Schedule III, Part I of the Companies Act, 2013

| S. No. | Items | Major Heading | Sub Heading |
| (i) | Interest Accrued and Due on Debentures | Current Liabilities | Other Current Liabilities |
| (ii) | Loose Tools | Current Assets | Inventories |
| (iii) | Accrued Interest on Calls in Advance | Currents Liabilities | Other Current Liabilities |
| (iv) | Interest Due on Calls in Arrears | Current Assets | Other Current Assets |
| (v) | Trademarks | Non-Current Assets | Fixed Assets – Intangible |
| (vi) | Premium on Redemption of Debentures | Non-Current Liabilities | Other Long Term Liabilities |
| (vii) | Plant and Machinery | Non-Current Assets | Fixed Assets – Tangible Assets |
| (viii) | Patents | Non-Current Assets | Fixed Assets – Intangible Assets |