Question

Classify the following items under Major heads and Sub-heads (if any) in the Balance Sheet of a company as per Schedule III of the Companies Act 2013:

1. Securities Deposits (More than 12 months);
2. Interest due on Calls-in-Arrears;
3. Balance in Forfeited Shares Account;
4. Capital Work-in-Progress;
5. Loan Repayable on Demand;
6. Cash in Hand.

Answer 1

S. No.	Item	Major Head	Sub-head
(i)	Securities Deposits (More than 12 Months)	Non-current Assets	Other Non-current Assets
(ii)	Interest due on Calls-in-Arrears	Current Assets	Other Current Assets
(iii)	Balance in Forfeited Shares Account	Shareholders’ Funds	Share Capital
(iv)	Capital Work-in-Progress	Non-current Assets	Property, Plant and Equipment and Intangible Assets – Capital Work-in-Progress
(v)	Loan Repayable on Demand	Current Liabilities	Short-term Borrowings
(vi)	Cash in Hand	Current Assets	Cash and Cash Equivalents