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.
Advertisement Remove all ads
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
Is there an error in this question or solution?
Advertisement Remove all ads
APPEARS IN
Advertisement Remove all ads
Advertisement Remove all ads
