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Accountancy · 2023 · 3 marks
CBSE 2023 · Region 2 · Set 3 · Q31
Under which major heads and sub-heads will the following items be presented in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, $\displaystyle 2013$ ? (i) Income received in advance (ii) Computer Software (iii) Balance of forfeited shares account
Marking-scheme solution
Item Major Head Sub Head
(i)
Income received in Current liabilities Other Current liabilities
advance
(ii)
Computer Software Non Current Assets Fixed Assets- Intangible
Assets
Alternatively
Property, Plant and
Equipment & Intangible
Assets
(iii)
Balance of forfeited Shareholders’ Fund Share Capital
shares account
Sub Head of part (ii).
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CBSE Class 12 Accountancy past-paper question from the 2023board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.