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Question
Identify the major heads under which the following items will be shown in the Balance Sheet of a company as per Schedule III of Companies Act, 2013:
(i) Provision for Tax
(ii) Loan payable on demand
(iii) Computer and related equipment
(iv) Goods acquired for trading
Solution
|
Items |
Main Head |
|
Provision for Tax |
Current Liabilities |
|
Loan payable on demand |
Current Liabilities |
|
Computer & related equipment |
Non- Current Assets |
|
Goods acquired for trading |
Current Assets |
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||
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||
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||
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