Question

Under which major headings and sub-headings (if any) will the following items be shown in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013?

1. Calls-in-Advance
2. Loose Tools
3. Outstanding Salaries
4. Accrued Income
5. Prepaid Insurance
6. Unpaid Dividend
7. Capital Work-in-Progress
8. Patents
9. Capital Reserve
10. Current Maturities of Long-term Debts

Answer 1

S. No.	Item	Major Head	Sub-head
(i)	Calls-in-Advance	Current Liabilities	Other Current Liabilities
(ii)	Loose Tools	Current Assets	Inventories
(iii)	Outstanding Salaries	Current Liabilities	Other Current Liabilities
(iv)	Accrued Income	Current Assets	Other Current Assets
(v)	Prepaid Insurance	Current Assets	Other Current Assets
(vi)	Unpaid Dividend	Current Liabilities	Other Current Liabilities
(vii)	Capital Work-in-Progress	Non-current Assets	Property, Plant and Equipment and Intangible Assets – Capital Work-in-Progress
(viii)	Patents	Non-current Assets	Property, Plant and Equipment and Intangible Assets – Intangible Assets
(ix)	Capital Reserve	Shareholders’ Funds	Reserves and Surplus
(x)	Current Maturities of Long-term Debts	Current Liabilities	Short-term Borrowings