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प्रश्न
On April 1, 2017, Jumbo Ltd. issued 10,000 12% debentures of Rs. 100 each, a discount of 20%, redeemable after 5 years. The company decided to write off the discount on the issue of such debentures on March 31, 2018. Show the items in the balance sheet of the company immediately after the issue of these debentures.
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उत्तर
| Balance Sheet of Jumbo Ltd. (Extract) | ||
| Particulars | Note No. | Amount (₹) |
| I. EQUITY AND LIABILITIES | ||
| 1. Non-Current Liabilities | ||
| (a) Long-term Borrowings | 1 | 10,00,000 |
| Total | 10,00,000 | |
| II. ASSETS | ||
| 1. Current Assets | ||
| (a) Cash and Cash Equivalents | 2 | 8,00,000 |
| (b) Other Current Assets | 3 | 2,00,000 |
| Total | 10,00,000 | |
Notes to Accounts
| Note No. | Particulars | Amount (₹) |
| 1 | Long-term Borrowings | |
| 10,00,000; 12% Debentures of Rs. 100 each | 10,00,000 | |
| 2 | Cash and Cash Equivalents | |
| Cash at Bank (10,000 shares/debentures × Rs. 80 received) | 8,00,000 | |
| 3 | Other Current Assets | |
| Discount on Issue of Debentures (To be written off within 12 months) | 2,00,000 |
Working Notes:
Total Face Value = 10,000 debentures × Rs. 100
= Rs. 10,00,000
Discount Allowed = `10,00,000 xx 20/100`
= 2,00,000
Actual Cash Received = Face Value − Discount
= 10,00,000 − 2,00,000
= 8,00,000
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