Ownclasses

Under which major headings the following items will be presented in the Balance sheet of a company as per Schedule VI Part I of the Companies Act, 1956?
(i) Loans provided repayable on demand
(ii) Goodwill
(iii) Copyrights
(iv) Loose tools
(v) Cheques
(vi) General Reserve
(vii) Stock of finished goods and
(viii) 9% Debentures repayable after three years

Answer
Items Major Head Major-Head Sub-Head
(i) Loans provided repayable on demand Current Assets Short-Term Loans and Advances
(ii) Goodwill Non-Current Assets Fixed Assets - Intangible Assets
(iii) Copyrights Non-Current Assets Fixed Assets- Intangible Assets
(iv) Loose Tools Current Assets Inventories
(v) Cheques Current Assets Cash and Cash Equivalent
(vi) General Reserve Shareholder's Funds Reserves and Surplus
(vii) Stock of Finished Goods Current Assets Inventories
(viii) 9% Debentures repayable after three years Non-Current Liabilities Long-Term Borrowings