Question

Classify the following items under major heads and sub-heads (if any) in the Balance Sheet of the company as per Schedule-III, Part-I of the Companies Act, 2013:

1. Outstanding Salaries
2. Trademarks
3. Loose tools

Answer 1

	Items	Heads	Subhead
(i)	Outstanding Salaries	Current Liabilities	Other Current Liabilities
(ii)	Trade Marks	Non-current Assets	Property, Plant and Equipment and Intangible Assets - Intangible Assets
(iii)	Loose Tools	Current Assets	Inventories