Read the following passage and answer the following question.

The following items are given in the company statements- 
Loose tools-  ₹1,20,000
Goods in transit-  ₹5,00,000
Prepaid expenses-  ₹15,000
Interest accrued on investments - ₹10,000
Deferred Tax assets- ₹2,00,000

Which of the following is shown on the 'equities and liabilities' side in the company's balance sheet?

None of these

The correct answer is option 4- None of these.

None of these is shown on the liability side. All items are shown on assets side of the balance sheet.

The format of the balance sheet is as follows-

* EQUITY AND LIABILITIES
1) Shareholder’s Funds (a) Share Capital (b) Reserves and Surplus (c) Money received against share warrants
2) Share Application money pending allotment
3) Non-current Liabilities (a) Long-term borrowings (b) Deferred tax liabilities (net) (c) Other long-term liabilities (d) Long-term provisions
4) Current Liabilities (a) Short-term borrowings (b) Trade payables (c) Other current liabilities (d) Short-term provisions

* ASSETS
1) Non-Current Assets
(a) Fixed assets
       (i) Tangible assets
       (ii) Intangible assets
       (iii) Capital work-in-progress
       (iv) Intangible assets under development
(b) Non-current investments (c) Deferred tax assets (net) (d) Long-term loans and advances (e) Other non-current assets
2) Current Assets (a) Current investments (b) Inventories (c) Trade receivables (d) Cash and cash equivalents (e) Short-term loans and advances (f) Other current assets.