Question 11 Chapter 1 of +2-B - USHA Publication 12 Class

Question 11 Chapter 1 of +2-B

11. (Identification of heads of Assets & Liabilities) Give the heading under which the following items will be shown in a company’s balance sheet as per schedule III of Companies Act, 2013.
(i) Licenses and Franchise, (ii) Tax Payable, (iii) Outstanding Expenses, (iv) Capital advances, (v) Debenture sinking Fund, (vi) Share forfeited account, (vii) Share issue Expenses.

The solution of Question 11 Chapter 1 of +2-B: - 

Items Advertisement	Heading
(i) Licenses and Franchise	Non – Current Liabilities
(ii)Tax Payable	Current Liabilities
(iii) Outstanding Expenses	Current Liabilities
(iv) Capital advances	Non – Current Assets
(v) Debenture sinking Fund	Reserve and Surplas
(vi) Share forfeited account	Share Capital Add to Subscribed Capital
(vii) Share issue Expenses	Non – Current Assets

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