Question

Find the heads and sub-heads under which the following items will appear in the balance sheet of a company as per Schedule III, Part I of Companies Act, 2013?

1. Furniture and Fixture
2. Advance paid to contractor for building under construction
3. Accrued Income
4. Loans repayable on demand to Bank
5. Employees earned leaves payable on retirement
6. Employees earned leaves encash able

Answer 1

Items	Heading	Sub-Heading
Furniture and Fixture	Non-Current Assets	Property, Plant & Equipment
Advance paid to contractor for building under construction	Non-Current Assets	Long-Term Loans & Advances
Accrued Income	Current Assets	Other Current Assets
Loans repayable on demand to Bank	Current Liabilities	Short Term Borrowings
Employees earned leaves payable on retirement	Non-Current Liabilities	Long Term Provisions
Employees earned leaves encashable	Current Liabilities	Short Term Provisions