1 :- What are the major heads in the Equity and Liabilities part of the Balance Sheet as per Schedule III?
Solution :-
(i) Shareholder’s Funds
(ii) Share Application Money Pending Allotment
(iii) Non – Current Liabilities
(iv) Current Liabilities
2 :- Under which major head will the following be shown :-
(i) Share Capital; and
(ii) Money Received Against Share Warrants ?
Solution :-
(i) Share Capital will be shown under Shareholder’s Fund.
(ii) Money Received Against Share Warrants will be shown under Shareholder’s Fund.
3 :- List any five items that are shown under Reserves and Surplus.
Solution :-
(i) Capital Reserve
(ii) Capital Redemption Reserve
(iii) Debentures Redemption Reserve
(iv) Securities Premium
(v) Surplus i.e, Balance in Statement of Profit and Loss.
4 :- Under which sub – head will the following be classified or shown :
(i) Long – term Borrowings;
(ii) Deferred Tax Liabilities (Net); and
(iii) Long – Term Provisions ?
Solution :-
All of them will be shown under Non Current Liabilities.
5 :- Name the items that are shown under Long – term Borrowings.
Solution :-
(i) Bonds
(ii) Debentures
(iii) Long – term Loan from Bank
(iv) Long – term Loans from Others
(v) Public Deposits