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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?
- Debentures with maturity period in current financial year;
- Securities Premium;
- Provident Fund.
Classify
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Solution
| S. No. | Item | Major Head | Sub-head |
| (i) | Debentures with maturity periods in the current financial year | Current Liabilities | Short-term Borrowings |
| (ii) | Securities Premium | Shareholders’ Funds | Reserves and Surplus |
| (ii) | Provident Fund | Current Liabilities | Other Current Liabilities |
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