Company Final Accounts

Accountancy (Phase -I & II) SEBI Grade A ( Officer) Exam

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50,000, 9% Debentures redeemable within 12 months of the date of Balance Sheet will be shown under :

Short-term Borrowings

Short-term Provision

Other Current Liability

Trade Payables

Explanation:

Other Current Liability:

If debentures are payable within a period of 12 months they will be considered as current liabilities. In current liabilities they will be shown under the sub head other current liabilities. Current liabilities are the liabilities which are payable within 12 months

By: Subhash Singh

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