Advertisements
Advertisements
प्रश्न
Youth Ltd. took a loan of ₹ 15,00,000 from State Bank of India against the security of tangible assets. In addition to principal security, it issued 10,000 11% debentures of ₹ 100 each as collateral security.
Pass necessary journal entries for the above transactions, if the company decided to record the issue of 11% debentures as collateral security and show the presentation in the Balance Sheet of Youth Ltd.
रोजनामा प्रविष्टि
Advertisements
उत्तर
| In the Books of Youth Ltd. Journal | ||||
| Date | Particulars | L.F. | Dr. Amount(₹) | Cr. Amount(₹) |
| Bank A/c Dr. | 15,00,000 | |||
|
To Bank Loan A/c (Being Loan taken from State Bank of India) |
15,00,000 | |||
| Debenture Suspense A/c Dr. | 10,00,000 | |||
|
To 11% Debentures A/c (Being 11% debentures deposited as collateral security) |
10,00,000 | |||
| Balance sheet of Youth Ltd. (An extract) | ||
| Particulars | Note No | Amount (₹) |
| I. Equity and Liabilities | ||
| 1. Non-current Liabilities | ||
| Long term borrowings | 1 | 15,00,000 |
Notes to Accounts:1
| Particulars | Amount (₹) | |
| I. Long term borrowings | ||
| Secured Loan from State Bank of India | 15,00,000 | |
| 10,000, 11% debentures of ₹100 each | 10,00,000 | |
| Less: - Debenture Suspense | 10,00,000 | NIL |
| (deposited as collateral security) | 15,00,000 | |
shaalaa.com
क्या इस प्रश्न या उत्तर में कोई त्रुटि है?
