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Question 48 Chapter 1 VK Publications Class 12 Part 2 - 2021
48. You are required to prepare 'Notes to Accounts on Finance Cost' from the following information of Castle Ltd.:
(i) Interest paid on bank overdraft Rs. 45,000
(ii) Interest paid on Loan obtained from X Ltd. Rs.90,000
(iii) Interest paid on Fixed Deposits Rs. 72,000
(iv) Interest Received on Fixed Deposits Rs. 30,000
(v) Bank charges Rs. 8,500
(vi) Discount on Issue of Debentures written off Rs. 7,000.
| Particulars | 31st March 2018Rs. |
|---|---|
| Finance Cost | |
| Interest paid on bank overdraft | 45,000 |
| Interest paid on Loan obtained from X Ltd. | 90,000 |
| Interest paid on Fixed Deposits | 72,000 |
| Discount on Issues of Debentures written off | 7,000 |
| Finance Cost to be shown in the Statement of profit and loss | 2,14,000 |
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question 48 Chapter 1 VK Publications Class 12 Part 2 - 2021", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to V K Publications part 2 class 12.
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