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Under Which Major Heads and Subheads Will the Following Items Be Placed in the Balance Sheet of a Company as per Schedule Vi Part I of the Companies Act, 1956 : (I) Bank Overdraft. (Ii) Cash and Cash Equivalents. (Iii) Securities Premium. (Iv) the Negative Balance of the Statement of Profit and Loss. (V) Goodwill. (Vi) Trademark. (Vii) 5 Years Loan Obtained from Sbi. (Viii) Investments. - Accountancy

Under which major heads and subheads will the following items be placed in the Balance Sheet of a company as per Schedule VI Part I of the Companies Act, 1956 :

(1) Bank overdraft.
(2) Cash and Cash Equivalents.
(3) Securities premium.
(4) The negative balance of the Statement of Profit and Loss.
(5) Goodwill.
(6) Trademark.
(7) 5 years loan obtained from SBI.
(8) Investments.

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Solution

  Items Head Sub Head (if any)
1 Bank Overdraft Current Liabilities Short-Term Borrowing
2 Cash and Cash Equivalents Current Assets Cash and Cash Equivalents
3 Securities Premium Shareholder’s Funds Reserve and Surplus
4 Negative Balance of
Statement of Profit and Loss
Shareholder’s Funds Shown by the way of deduction
from Reserve and Surplus
5 Goodwill Non-Current Assets Intangible Fixed Assets
6 Trademark Non-Current Assets Intangible Fixed Assets
7 5 Years Loan from SBI Non-Current Liabilities Long-term Borrowings
8 Investment Non-Current Liabilities Non-Current Investment

 

Concept: Meaning and Definitions of Partnership and Partnership Deed
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