question_answer

Under which head and sub-head will the following items appear in the balance sheet of a company :

(i) Computer software under development.

(ii) Unclaimed dividends

(iii) Provision for tax

(iv) Discount/Loss on issue of debentures (long-term).

Answer:

S. No.	Items	Head	Sub-head
1.	Computer Software under	Non-current Assets	Fixed Assets (Intangible)
	Development		Asset under development)
2.	Unclaimed Dividends	Current liabilities	Other current Liabilities
3.	Provision for Tax	Current Liabilities	Short term Provisions
4.	Discount / Loss on Issue of	Non-current Assets	Other non-current Assets
	Debentures (long-term)