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Question
Under what heads will you classify the following items on the equity & liability side of the Balance Sheet of a limited company:
- Unclaimed Dividend
- Proposed Dividend
- Securities Premium
- Share Forfeited Account
- Public Deposits
- Debentures issued by the Company.
Classify
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Solution
| Heading | Sub-heading | |
| i | Current Liabilities | Other Current Liabilities |
| ii | Contingent Liabilities | Other Current Liabilities |
| iii | Shareholder's Funds | Reserves and Surplus |
| iv | Shareholder's Funds | Share Capital: It is shown separately below Subscribed Capital in Notes to Accounts |
| v | Non-Current Liabilities | Long term Borrowings |
| vi | Non-Current Liabilities | Long term Borrowings |
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