1
Question
Hero Ltd. has raised following long-term loans on 1st April, 2018:
10,000; 10% Debentures of ₹ 100 each redeemable in four equal yearly
₹
installments beginning 1st July, 2019
10,00,000
11% Bank Loan from SBI repayable after 5 years
20,00,000
Interest on Debentures and Bank Loan has not yet been paid.
How will be the above items shown in the Balance Sheet of the company as at 31st March, 2019?
Hero Ltd. has raised following long-term loans on 1st April, 2018:
| 10,000; 10% Debentures of ₹ 100 each redeemable in four equal yearly | ₹ |
| installments beginning 1st July, 2019 | 10,00,000 |
| 11% Bank Loan from SBI repayable after 5 years | 20,00,000 |
| Interest on Debentures and Bank Loan has not yet been paid. |
How will be the above items shown in the Balance Sheet of the company as at 31st March, 2019?
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Solution
Extract of Balance Sheet
as at March 31, 2019
Particulars
Note No.
Amount
(₹)
2. Non-Current Liabilities
Long-term Borrowings
11% Loan from SBI
20,00,000
7,500, 10% Debentures of Rs 100 each
7,50,000
27,50,000
3. Current Liabilities
Other Current Liabilities
Current Maturity of Long-term Debts (2,500
Debentures of Rs 100 each maturing within 12 months)
2,50,000
Interest accrued and Due on Debentures
1,00,000
Interest accrued and Due on Loan
2,20,000
5,70,000
Total
33,20,000
₹
|
Extract of Balance Sheet as at March 31, 2019 |
||||
|
Particulars |
Note No. |
Amount (₹) |
||
|
2. Non-Current Liabilities |
|
|
||
|
Long-term Borrowings |
|
|
||
|
11% Loan from SBI |
20,00,000 |
|
|
|
|
7,500, 10% Debentures of Rs 100 each |
7,50,000 |
|
27,50,000 |
|
|
3. Current Liabilities |
|
|
||
|
Other Current Liabilities |
|
|
||
|
Current Maturity of Long-term Debts (2,500 |
2,50,000 |
|
|
|
|
Interest accrued and Due on Debentures |
1,00,000 |
|
|
|
|
Interest accrued and Due on Loan |
2,20,000 |
|
5,70,000 |
|
|
|
|
|
|
|
|
Total |
|
33,20,000 |
||
|
|
|
|
||
| ₹ |
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