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Financial Statements Of A Company
Question
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 |
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