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

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

Items	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

To understand more about Balance Sheet please check out following links:

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Balance Sheet: Meaning, Format & Examples

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

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