Financial Statements Of A Company

Computer software – shown under Intangible Assets in Non-Current Assets.
Outstanding salary – shown under Other Current Liabilities in Current Liabilities.
Work in progress – shown under Inventories in Current Assets as “Work-in-Progress.” Explanation:
- Computer software is intangible because it has no physical existence but provides future economic benefits.
- Outstanding salary is an expense due but not paid as on balance sheet date, thus treated as a liability.
- Work in progress represents partly finished goods and is classified under inventories.