Question 24 Chapter 1 of +2-B - T.S. Grewal 12 Class

Question 24 Chapter 1 of +2-B

24.Hero Ltd. Has raised following long-term loans on 1st April 2018:
Company:

	Rs.
10,000; 10% Debenture of each redeemable in four equal yearly	10,00,000
Instalments beginning 1st July 2019
11% Bank Loan from SBI repayable after 5 years	20,00,000

The solution of Question 24 Chapter 1 of +2-B: - 

Items Advertisement	Note no. (2)	Figures as at the end of the Current Reporting Period (3)	Figures as at the end of the Previous Reporting Period (4)
I. Equity and Liabilities
1. Shareholders’ Funds
2. Share Application Money Pending Allotment
3. Non-Current Liabilities
(a) Long-term borrowings	1	27,50,000
4. Current Liabilities
Other current Liabilities	2	5,70,000
Total		33,20,000

Note 1

Particulars		Amount
3. Non-Current Liabilities
(a) Long-term borrowings
11% Loan from SBI	20,00,000
7,500 10% Debentures of Rs 100 each	7,50,000	27,50,000
Note 2
4. Current Liabilities
Other current Liabilities
Current Maturities of long-term Debts	2,50,000
(2,500 Debentures of Rs 100 each due for redemption within 12 months from the date of Balance Sheet)
Interest Accrued and Due on 10% Debentures	1,00,000
Interest Accrued and Due on Loan from SBI	2,20,000	5,70,000
Total		33,20,000

 

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Also, Check out the solved question of previous Chapters: -

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

• Chapter No. 1 - Financial Statement of Not-For-Profit Organisations
• Chapter No. 2 - Accounting for Partnership Firms - Fundamentals
• Chapter No. 3 - Goodwill: Nature and Valuation
• Chapter No. 4 - Change in Profit-Sharing Ratio Among the Existing Partners
• Chapter No. 5 - Admission of a Partner
• Chapter No. 6 - Retirement/Death of a Partner
• Chapter No. 7 - Dissolution of a Partnership Firm

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 8 - Company Accounts -  Accounting for Share Capital
• Chapter No. 9 - Company Accounts - Issue of Debentures
• Chapter No. 10 - Redemption of Debentures

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 1 - Financial Statements of a Company
• Chapter No. 2 - Financial Statement Analysis 
• Chapter No. 3 - Tools of Financial Statement Analysis - Comparative Statements and Common- Size Statements
• Chapter No. 4 - Accounting Ratios
• Chapter No. 5 - Cash Flow Statement

 

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