Question

Under which major heads and sub-heads will the following items be placed in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013:

1. Patents
2. Capital Reserve
3. Prepaid rent

Answer 1

Name of Items	Major Heading	Sub Heading
(i) Patents	Non Current Assets	Property, Plant and Equipment and Intangible assets (Intangible assets)
(ii) Capital Reserve	Shareholders' Funds	Reserve and Surplus
(iii) Prepaid rent	Current assets	Other Current assets