Question

From the following information, calculate the amount of loan raised

$\begin{array}{ccc}& \text{1st april 2018 (Rs.)}& \text{31st march 2019 (Rs.)}\\ \text{Long term loans}& 2,00,000& 2,50,000\end{array}$

During the year the company repaid the loan amounting to Rs 1,00,000.

• A. Rs. 1,50,000
• B. Rs. 50,000
• C. Rs. 1,00,000
• D. None of these

Answer 1

The correct option is A

Rs. 1,50,000

$\text{Dr}\text{Long-term Loan Account}\text{Cr}\begin{array}{cccccc}\text{Particulars}& \text{J.F.}& \text{Amount}& \text{Particulars}& \text{J.F.}& \text{Amount}\\ & & \text{(Rs.)}& & & \text{(Rs.)}\\ \text{Cash (loan repaid)}& & 1,00,000& \text{Balance b/d}& & 2,00,000\\ \text{Balance c/d}& & 2,50,000& \text{Cash (new loan raised)}& & 1,50,000\\ & & \overline{\underset{–}{\underset{–}{3,50,000}}}& & & \overline{\underset{–}{\underset{–}{3,50,000}}}\end{array}$

Rs 1,50,000