Under which heads and sub heads will the following items appear in the

1.	Under which heads and sub heads will the following items appear in the Balance Sheet of a company as per Revised Schedule VI of the Companies Act, 1956:(i) Bills Receivable (ii) Interest accrued and due on debentures (iii) Trade Creditors (iv) Provision for Taxation (v) Stores and Spares
Answer» (i) Current Assets – Trade Receivables (ii) Current Liabilities – Other Current Liabilities (iii) Current Liabilities – Trade Parables (iv) Current Liabilities – Short term Provisions (v) Current Assets – Inventories

Under which heads and sub heads will the following items appear in the Balance Sheet of a company as per Revised Schedule VI of the Companies Act, 1956:(i) Bills Receivable (ii) Interest accrued and due on debentures (iii) Trade Creditors (iv) Provision for Taxation (v) Stores and Spares

Answer»

(i) Current Assets – Trade Receivables

(ii) Current Liabilities – Other Current Liabilities

(iii) Current Liabilities – Trade Parables

(iv) Current Liabilities – Short term Provisions

(v) Current Assets – Inventories