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

Question 24 Chapter 1 of +2-B
Question No. 24 - Chapter No.1 - T.S. Grewal +2 Book Part B-min

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Question 24 Chapter 1 of +2-B

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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 yearly10,00,000
Instalments beginning 1st July 2019 
11% Bank Loan from SBI repayable after 5 years20,00,000

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

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 borrowings127,50,000 
4. Current Liabilities   
Other current Liabilities25,70,000 
Total 33,20,000 

Note 1

Particulars

Amount

3. Non-Current Liabilities  
(a) Long-term borrowings  
11% Loan from SBI20,00,000 
7,500 10% Debentures of Rs 100 each7,50,00027,50,000
Note 2  
4. Current Liabilities  
Other current Liabilities  
Current Maturities of long-term Debts2,50,000 
(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% Debentures1,00,000 
Interest Accrued and Due on Loan from SBI2,20,0005,70,000
Total 33,20,000

 

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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)

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

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

 

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Question 1 Chapter 1 of +2-B
T.S. Grewal’s Analysis of Financial Statements

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