Question

Under which major headings and sub-headings will the following items be shown in the Balance Sheet of a company  as per Schedule VI Part I of the Companies Act, 1956 :
(i) A balance of the Statement of Profit and Loss.
(ii) A loan of  Rs 1,00,000 payable after three years.
(iii) Short-term deposits payable on demand.
(iv) Loose tools
(v) Trademark
(vi) Land
(vii) Cash at the bank
(viii) Trade payables

Answer 1

	Items	Head	Sub Head
1	A balance of the Statement of Profit and Loss	Shareholders' Funds	'Reserves and Surplus'
2	Loan of Rs 1,00,000 payable after three years	Non-Current Liabilities	Long-Term Borrowings
3	Short-term deposits payable on demand	Current Assets	Short Term Loans and Advances
4	Loose tools	Current Assets	Inventories
5	Trademark	Non - Current Assets	Fixed Assets (Intangible)
6	Land	Non - Current Assets	Fixed Assets (Tangible)
7	Cash at bank	Current Assets	Cash and Cash Equivalents
8	Trade payables	Current Liabilities	Trade Payables