State Under Which Major Headings and Sub-headings the Following Items Will Be

Question

State under which major headings and sub-headings the following items will be presented in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013:
(i) Capital Reserve;
(ii) Calls-in-Advance;
(iii) Loose Tools; and
(iv) Bank overdraft.

Ledger

Solution

S.No.	Item	Major Head	Sub-head
i)	Capital Reserve	Shareholders’ Funds	Reserves and Surplus
ii)	Calls-in-Advance	Current Liabilities	Other Current Liabilities
iii)	Loose Tools	Current Assets	Inventories
iv)	Bank Overdraft	Current Liabilities	Short-term Borrowings

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Concept of Financial Statements

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Q 51 Q 50 Next

Chapter 1: Financial Statements of a Company - Exercises [Page 72]

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TS Grewal Accountancy - Analysis of Financial Statements [English] Class 12

Chapter 1 Financial Statements of a Company
Exercises | Q 51 | Page 72

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