Question

Under which major heads and sub-heads will the following items be presented in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013?

1. Bank Overdraft
2. Subsidy Reserve
3. Capital Redemption Reserve
4. Publishing Titles
5. Copyrights and Patents
6. Debit balance in the Statement of Profit & Loss
7. Debenture Redemption Reserve
8. Income Received in Advance

Answer 1

S. No.	Item	Major Head	Sub-head
(i)	Bank Overdraft	Current Liabilities	Short-term Borrowings
(ii)	Subsidy Reserve	Shareholders’ Funds	Reserves and Surplus
(iii)	Capital Redemption Reserve	Shareholders’ Funds	Reserves and Surplus
(iv)	Publishing Titles	Non-current Assets	Property, Plant and Equipment and Intangible Assets – Intangible Assets
(v)	Copyrights and Patents	Non-current Assets	Property, Plant and Equipment and Intangible Assets – Intangible Assets
(vi)	Debit Balance in the Statement of Profit & Loss	Shareholders’ Funds	Reserves and Surplus (as a negative amount)
(vii)	Debenture Redemption Reserve	Shareholders’ Funds	Reserves and Surplus
(viii)	Income Received in Advance	Current Liabilities	Other Current Liabilities