Question

Under which of the major heads will the following items be shown in the Balance Sheet of a company, as per Schedule III of the Companies Act, 2013:

1. 10% Debentures;
2. Stock-in-Trade;
3. Cash at Bank;
4. Bills Receivable;
5. Goodwill;
6. Loose Tools;
7. Share Application Money Pending Allotment.

Answer 1

S. No.	Item	Head	Sub-head
(i)	10% Debentures	Non-current Liabilities	Long-term Borrowings
(ii)	Stock-in-Trade	Current Assets	Inventories
(iii)	Cash at Bank	Current Assets	Cash and Cash Equivalents
(iv)	Bills Receivable	Current Assets	Trade Receivables
(v)	Goodwill	Non-current Assets	Property, Plant and Equipment and Intangible Assets - Intangible Assets
(vi)	Loose Tools	Current Assets	Inventories
(vii)	Share Application Money Pending Allotment	Share Application Money Pending Allotment is shown as a separate item between Equity and Non-Current Liabilities.