Financial Statement

Mudra Ltd. Is in the process of preparing its Balance Sheet as per Schedule III, Part I of the Companies Act, 2013 and provides its true and fair view of the financial position.  Under which head and sub-head will the company show ‘Stores and Spares’ in its Balance Sheet?  What is the accounting treatment of … Read more

M K Limited is a computer hardware manufacturing company. While preparing its accounting records it takes into consideration the various accounting principles and maintains transparency. At the end of the accounting year, the company follows the ‘Companies Act, 2013 and Rules thereunder’ for the preparation of its Financial Statements. It also prepares its Income Statement … Read more

Under which major heads and sub-heads will the following items be placed in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013? (i) Cheques and Bank Drafts in Hand (ii) Loose tools (iii) Securities Premium Reserve (iv) Long-Term Investments with maturity period less than six months (v) … Read more

Under which major headings and subheadings will the following items be presented in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013? (i) Balance of the Statement of Profit and Loss (ii) Interest accrued on investments (iii) Livestock (iv) Licenses and Franchise (v) Securities Premium Reserve (vi) … Read more

Under which major headings and subheadings will the following items be presented in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013? (i) Interest accrued and due on debentures (ii) Loose tools (iii) Accrued interest on calls in advance (iv) Interest due on calls in arrears (v) … Read more

State under which major headings and sub-headings will the following items be presented in the Balance Sheet of a company as per Schedule-III, Part-I of the Companies Act, 2013. (i) Prepaid Insurance (ii) Investment in Debentures (iii) Calls-in-arrears (iv) Unpaid dividend (v) Capital Reserve (vi) Loose Tools (vii) Capital work-in-progress (viii) Patents being developed by … Read more

Under which major heads and subheads of the Balance Sheet of a company, will the following items be shown:- Loose Tools  Retirement Benefits Payable to employees  Patents  Interest on Calls in Advance Marks-4, CBSE:2018-19/Sample/Q-20 Answer Next Back