Question 13 Chapter 1 of +2-B - USHA Publication 12 Class

Question 13 Chapter 1 of +2-B

Arrangement of Balance sheet Items

13. (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) Interest accrued on investment, (ii) Premium on redemption of debentures, (iii) Arrears of fixed cumulative preference dividend, (iv) Shares of NTPC, (v) Fixed deposits from Public, (vi) Capital Redemption Reserve, (vii) Debenture Redemption Reserve.

 

The solution of Question 13 Chapter 1 of +2-B: - 

 

Items	Heading
(i)Interest accrued on investment	Current Assets
(ii)Premium on redemption of debentures	Non – Current Liabilities
(iii)Arrears of fixed cumulative preference dividend	Contingent Liabilities- Footnote
(iv) Shares of NTPC	Non – Current Assets
(v) Fixed deposits from Public	Non – Current Liabilities
(vi) Capital Redemption Reserve	Shareholders’ Fund - Reserve & Surplus
(vii) Debenture Redemption Reserve	Shareholders’ Fund - Reserve & Surplus

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