Question

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

1. Accrued Income
2. Capital Advances
3. Capital work-in-progress 

Answer 1

Items	Major Head	Sub Head
Accrued Income	Current assets	Other current assets
Capital Advances	Non-current assets	Long term loans & advances
Capital Work in progress	Non-current assets	Property, Plant and Equipment and Intangible Assets - Capital Work in progress