Balance Sheet - Liabilties

Liabilities Side of Balance Sheet

Liabilities are written in left side of company’s balance sheet which includes.

Share Capital

Share capital of company, includes  to show authorized capital, subscribed capital, called up capital and paid up capital. For calculating paid up capital, we will deduct calls unpaid and add original paid up amount offorfeited shares.

Reserves and Surplus

Following reserves will be shown in liabilities side of balance sheet of company.

Capital reserves

Share premium account 

Other reserves

Surplus balance in profit and loss account after providing dividend, bonus or reserves.

Sinking fund

Secured Loan

If any loan is taken by company after keeping any asset as security, then it will be shown in secured loan head. Its detail is given below.

Debentures

Loan and advances from subsidiaries

Other loan and advances

Interest payable on secured loan

Unsecured loan

Following will be the unsecured loan.

Fixed deposits of public

Short term loans and advances 

Other loans

Current Liabilities and Provisions

All liabilities which is payable within one year, will be included in current liabilities head. 

Current Liabilities

Acceptance or bill payable

Sundry creditors

Interest payable other than on loan

Outstanding expenditures

Provisions

Provisions for taxations

Proposed dividend

Provision for provident fund

Provision for insurance, pension and other staff benefit schemes

Other provisions

Contingent liabilities 

These types of liabilities will not be shown in balance sheet. But a simple footnote is made for its detail. Following may be the contingent liabilities of company.

Claims against the company not acknowledge as debts

Uncalled liability on shares paid

Areas of fixed cumulative dividends

Any other contingent liability of company