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Question

From the following information, calculate the amount of loan raised

1st april 2018 (Rs.)31st march 2019 (Rs.)Long term loans2,00,0002,50,000

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


A

Rs. 1,50,000

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B

Rs. 50,000

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C

Rs. 1,00,000

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D

None of these

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Solution

The correct option is A

Rs. 1,50,000


Dr Long-term Loan Account CrParticularsJ.F.AmountParticularsJ.F.Amount(Rs.)(Rs.)Cash (loan repaid)1,00,000Balance b/d2,00,000Balance c/d2,50,000Cash (new loan raised)1,50,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯3,50,000––––––––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯3,50,000––––––––––––––––

Rs 1,50,000


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