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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