Under which major sub-headings the following items will be placed in the Balance Sheet of a company as per revised Schedule-VI, Part-I of the Companies Act, 1956:
- Accrued Incomes
- Loose Tools
- Provision for employees benefits
- Unpaid dividend
- Short-term loans
- Long-term loans.
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Solution
| Items | Major Heads | |
|
1. 2. 3. 4. 5. 6. |
Accrued income Loose Tools Provision for Employees benefit Unpaid Dividend Short-term Loans Long-term Loans |
Other Current Assets Inventories Short-Term Provision Other Current Liabilities Short-Term Borrowings Long-Term Borrowings |
Concept: Statement of Profit and Loss and Balance Sheet in the Prescribed Form with Major Headings and Sub Headings
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