Class 12 Accountancy - Company Accounts and Analysis of Financial Statements - Chapter Financial Statements of a Company NCERT Solutions | How will you disclose the following item
How will you disclose the following items in the Balance Sheet of a company;
(i) Loose tools
(ii) Uncalled liability on partly paid-up shares
(iii) Debentures redemption reserve
(iv) Mastheads and publishing titles (v) 10% debentures
(vi) Proposed dividend
(vii) Share forfeited account
(viii) Capital redemtion reserve
(ix) Mining rights
(x) Work-in-progress
Disclosure of various items in the Balance Sheet of a company is given below.
|
Items |
Main Head |
Sub-Head |
|
|
(i) |
Loose Tools |
Current Assets |
Inventories |
|
(ii) |
Uncalled liability on partly paid-up shares |
Contingent Liability and Capital Commitments |
Capital Commitments |
|
(iii) |
Debentures Redemption Reserve |
Shareholders’ Funds |
Reserve and surplus |
|
(iv) |
Mastheads and publishing titles |
Non-Current Assets |
Fixed Assets – Intangible assets |
|
(v) |
10% debentures |
Non-Current Liabilities |
Long-Term Borrowings |
|
(vi) |
Proposed dividend |
Current Liabilities |
Short-Term Provisions |
|
(vii) |
Share forfeited account |
Shareholders’ Funds |
Subscribed Capital (to be added) |
|
(viii) |
Capital Redemption Reserve |
Shareholders’ Funds |
Reserve and surplus |
|
(ix) |
Mining Rights |
Non-Current Assets |
Fixed Assets – Intangible assets |
|
(x) |
Work-in-progress |
Current Assets |
Inventories |
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