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Question 13 Chapter 11 of Class 12 Part – 2 – 2024
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.
| 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 |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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