Question 47 Chapter 9 of +2-A - T.S. Grewal 12 Class

Question 47 Chapter 9 of +2-A

Table of Contents

The solution of Question 47 Chapter 9 of +2-A: –

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)

47. On 1st June 2017, R Energy Ltd. issued 10,000, 7% Debentures of Rs 100 each at a discount of 10% redeemable at a premium of 10% at the end of five years. All the debentures were subscribed and allotment was made.
Prepare the Balance Sheet extract
as at 31st March 2018.

The solution of Question 47 Chapter 9 of +2-A: –

Particulars (1)	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)
II. Assets
1.Non-Current Assets
Other Non-current assets			1,20,000
2. Current Assets
Other current assets			40,000
Total			1,20,000

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Particulars	Details	Amount
Other Non-current Assets
Loss on the issue of Debenture	1,60,000
Less: Disclosed as other current Assets	40,000	1,20,000
Other current Assets
Loss on the issue of Debenture		40,000

Particulars (1)	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)
II. Assets
1.Non-Current Assets
Other Non-current assets			80,000
2. Current Assets
Other current assets			40,000
Total			1,20,000

Particulars	Details	Amount
Other Non-current Assets
Loss on the issue of Debenture	1,60,000
Less: Disclosed as other current Assets	40,000	80,000
Other current Assets
Loss on the issue of Debenture		40,000