Question 47 Chapter 9 of +2-A - T.S. Grewal 12 Class

Question 47 Chapter 9 of +2-A

47. On 1st June 2017, R Energy Ltd. issued 10,000, 7% Debentures of Rs 100 each at a discount of 10% redeemable at a premium of 10% at the end of five years. All the debentures were subscribed and allotment was made.
Prepare the Balance Sheet extract
as at 31st March 2018.

The solution of Question 47 Chapter 9 of +2-A: - 

 

Particulars (1)		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)
II. Assets
1.Non-Current Assets
Other Non-current assets				1,20,000
2. Current Assets
Other current assets				40,000
Total				1,20,000

 

 

Particulars	Details		Amount
Other Non-current Assets
Loss on the issue of Debenture	1,60,000
Less: Disclosed as other current Assets	40,000		1,20,000
Other current Assets
Loss on the issue of Debenture			40,000

 

 

Particulars (1)		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)
II. Assets
1.Non-Current Assets
Other Non-current assets				80,000
2. Current Assets
Other current assets				40,000
Total				1,20,000

 

Particulars	Details		Amount
Other Non-current Assets
Loss on the issue of Debenture	1,60,000
Less: Disclosed as other current Assets	40,000		80,000
Other current Assets
Loss on the issue of Debenture			40,000

 

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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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