Question 24 Chapter 1 of +2-B
Table of Contents
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 |
Note no. |
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 | |
To understand more about Balance Sheet please check out following links:
Balance Sheet: Meaning, Format & Examples
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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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