Question

State under which major headings the following items will be presented in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013.

(i) Trade Marks

(ii) Capital Redemption Reserve

(iii) Income received in advance

(iv) Stores and Spares

(v) Office Equipment

(vi) Current Investments

Answer 1

| S.No. | Items | Major Head | Sub-Heading |
| (i) | Trade Marks | Non-Current Assets | Fixed Assets – Intangible Assets |
| (ii) | Capital Redemption Reserve | Shareholder’* Funds | Reserves and Surplus |
| (iii) | Income received in advance | Current Liabilities | Other Current Liabilities |
| (iv) | Stores and Spares | Current Assets | Inventories |
| (v) | Office Equipment | Non-current Assets | Fixed Assets – Tangible Assets |
| (vi) | Current Investments | Current Assets | - |