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Under Which Major Headings the Following Items Will Be Presented in the Balance Sheet of a Company as per Schedule Vi Part I of the Companies Act, 1956? (I) Securities Premium Reserve (Ii) Balances with Banks (Iii) Term Loans from the Bank (Iv) Goods-in-transit (V) Loans Repayable on Demand (Vi) Computer Software (Vii) Unpaid Dividends and (Viii) Vehicles - Accountancy

Under which major headings the following items will be presented in the Balance sheet of a company as per Schedule VI Part I of the Companies Act, 1956?

(1) Securities Premium Reserve

(2) Balances with banks

(3) Term loans from the bank

(4) Goods-in-transit

(5) Loans repayable on demand

(6) Computer software

(7) Unpaid dividends and

(8) Vehicles

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Solution

  Items Major Head Sub Head
1 Securities Premium Reserve Shareholder’s Fund Reserve and Surplus
2 Balance with banks Current Assets Cash and Cash Equivalents
3 Term Loans from Banks Non-Current Liabilities Long-Term Borrowings
4 Goods-in-transit Current Assets Inventories
5 Loans repayable on demand Current Liabilities Short-Term Borrowings
6 Computer Software Non-Current Assets Fixed Assets – Intangible Assets
7 Unpaid Dividend Current Liabilities Other Current Liabilities
8 Vehicles Non-Current Assets Fixed Assets – Tangible Assets

 

Concept: Admission of a Partner - Preparation of Balance Sheet
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