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Question -

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 dividends
(vii) Share forfeited account
(viii) Capital Redemption Reserve
(ix) Mining Rights
(x) Work-in-progress



Answer -

Disclosure of various items in the Balance Sheet of a company is given below.┬а

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

ShareholdersтАЩ Funds

Reserve and surplus

(iv)

Mastheads and publishing titles

Non-Current Assets

Fixed Assets тАУ Intangible assets

(v)

10% debentures

Non-Current Liabilities

Long-Term Borrowings

(vi)

Proposed dividend

Current Liabilities

Short-Term Provisions

(vii)

Share forfeited account

ShareholdersтАЩ Funds

Subscribed Capital (to be added)

(viii)

Capital Redemption Reserve

ShareholdersтАЩ Funds

Reserve and surplus

(ix)

Mining Rights

Non-Current Assets

Fixed Assets тАУ Intangible assets

(x)

Work-in-progress

Current Assets

Inventories

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