Question

How will you show following balances in balance sheet of a company as per schedule-III of Companies Act, 2013?

(1) Loan to director (temporary)
(2) Unpaid interest on debenture
(3) Cash credit from bank
(4) Machinery (to be sold next year)
(5) Computer
(6) Units of mutual fund (For short term)
(7) Debenture redemption premium (Redeemable during next year)
(8) Bank overdraft
(9) Debenture discount (to be written off next year)
(10) Rent received in advance

Answer 1

Particulars	Balance sheet head	Main head	Subhead
1. Loan to director (temporary)	Assets	Current Assets	Short-term loan and Advance
2. Unpaid interest on debenture	Equities-liabilities	Current liabilities	Other current Assets
3. Cash credit from bank	Equities-liabilities	Current liabilities	Short-term borrowings
4. Machinery (to be sold next year)	Assets	Non-current liabilities	Fixed Assets: Tangible
5. Computer	Assets	Non-current Assets	Fixed Assets: Tangible
6. Units of mutual fund (For short term)	Assets	Current Assets	Current investment
7. Debenture redemption premium (Redeemable during next year)	Equities -liabilities	Current liabilities	Other current liabilities
8. Bank overdraft	Equities-liabilities	Current liabilities	Short-term borrowings
9. Debenture discount (to be written off next year)	Assets	Current Assets	Other current Assets
10. Rent received in advance	Equities-liabilities	Current liabilities	Other current liabilities