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. Work in progress
2. Securities premium
3. Creditors

Answer 1

	Items	Heads	Subhead
(i)	Work in Progress	Current Assets	Inventories
(ii)	Security Premium	Shareholder’s Funds	Reserve & Surplus
(iii)	Creditors	Current Liabilities	Trade Payables