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Question
Under which major heads and sub-heads will the following items be presented in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013?
- Bills Receivable
- Securities premium reserve
- Calls in advance
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Solution
| Items | Side | Major Head | Sub Head | |
| (a) | Bills Receivable | Asset | Current Assets | Trade Receivables |
| (b) | Securities Premium Reserve | Liabilities | Shareholders Funds | Reserves and Surplus |
| (c) | Calls-in-Arrears | Liabilities | Current Liabilities | Other Current Liabilities |
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