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

Question 24 Chapter 1 of +2-B

Question 24 Chapter 1 of +2-B

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.
(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:

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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2 Book 3 min 225x300 - Question 24 Chapter 1 of +2-B  - T.S. Grewal 12 Class
T.S. Grewal’s Analysis of Financial Statements

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