Question

How would you disclose the following items in the Balance Sheet of a Limited Company?

1. Outstanding Salary
2. Bank Deposits with maturity period of 12 months
3. Unpaid matured deposits
4. Preliminary Expenses
5. Bills Payable

Answer 1

	Heading	Sub-heading
i	Current Liabilities	Other Current Liabilities
ii	Current Assets	Cash and Cash Equivalents
iii	Current Liabilities	Other Current Liabilities
iv	To be written off in the same year in which they occur.	Other Current Liabilities
v	Current Liabilities	Trade Payables