Question

Under which heads the following items are shown in the Balance Sheet of a company:

(i) Calls-in-Arrears

(ii) Commission Received in Advance

(iii) Debentures

(iv) Stores and Spare Parts

(v) Land and Building

(vi) Forfeited Shares Account?

Answer 1

S. No.	Items	Main Head	Sub-Head
1	Calls-in-Arrears	Shareholder's Funds	Share Capital (i.e. as a deduction from subscribed share capital)
2	Commission Received in Advance	Current Liabilities	Other Current Liabilities
3	Debentures	Non-Current Liabilities	Long-term Borrowings
4	Stores and Spare Parts	Current Assets	Inventories
5	Land and Building	Non-Current Assets	Fixed Assets (Tangible Assets)
6	Forfeited Shares Account	Shareholder's Funds	Share Capital (i.e. as an addition to subscribed share capital)