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Financial Statements Of A Company

Question

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Under which heads and sub-heads the following items will appear in the Balance Sheet of a company as per revised Schedule VI, Part-I of the Companies Act 1956.
i. Premium on Redemption of Debentures
ii. Loose Tools
iii. Balance with Banks

Solution

Items	Heads	Sub-Heads
Premium on Redemption of Debentures	Non- Current Liabilities	Other Long-Term Liabilities
Loose Tools	Current Assets	Inventories
Balance with Banks	Current Assets	Cash and Cash Equivalents

Some More Questions From Financial Statements Of A Company Chapter

Following is the statement of Profit and Loss of Sun India Ltd. For the year ended 31st March. 2015:

The motto of Sun India Ltd is to produce and supply green energy in the rural areas of India. It has also taken up a project of constructing a road that will pass through five villages so that these villages could be connected to the nearby town. It will use the local resources and employ local people for construction of the road. You are required to prepare a Comparative Statement of Profit and Loss of Sun India Ltd from the given statement of Profit and Loss. Also, identify any two values that the company wishes to convey to the society

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