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प्रश्न
Hoody Ltd. made the following borrowings in the year 2023-24:
|
On 1st April 2023: Ten year, 10% Bank Loan from AZ Bank secured by a primary security and 20,000, 6% Debentures of ₹ 100 each as collateral security, the issue of which was recorded in the books. |
₹ 25,00,000 |
|
On 1st October 2023: 5,000, 8% Debentures of ₹ 100 each, redeemable at par in five equal annual instalments. |
₹ 5,00,000 |
The terms of the borrowings were:
- The redemption of 8% Debentures to begin from 30th September 2024.
- Interest on Bank Loan and Debentures to be paid annually.
Additional information:
In the year 2023–24, the company defaulted on the payment of the interest on bank loan.
You are required to show the above items in Notes to Accounts accompanying the Balance Sheet of Hoody Ltd. prepared as per Schedule III of the Companies Act, 2013. as at 31st March 2024.
खातेवही
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उत्तर
| In the Books of Hoody Ltd. Balance Sheet (An Extract) as at 31st March 2024 |
||
| Particulars | Note No. | Amount (₹) |
| I. EQUITY AND LIABILITIES | ||
| Non–Current Liabilities: | ||
| Long-term Borrowings | 1 | 29,00,000 |
| Current Liabilities: | ||
| Short-term Borrowings | 2 | 1,00,000 |
| Other Current Liabilities | 3 | 2,70,000 |
Notes to Accounts:
| Particulars | Amount (₹) | Amount (₹) |
| (1) Long-term Borrowings: | 29,00,000 | |
| (a) 10% bank loan (taken on 1st April 2023 repayable in 10 years) | 25,00,000 | |
| (b) 6% Debentures | 25,00,000 | |
| Less: Debentures Suspense | (25,00,000) | |
| (c) 8% Debentures | 4,00,000 | |
| (2) Short-term Borrowings: | ||
| 8% Debentures (to be redeemed within 12 months of balance sheet date) | 1,00,000 | |
| (3) Other Current Liabilities: | ||
| (a) Interest on 10% bank Loan (Defaulted) | 2,50,000 | |
| (b) Interest on 8% Debentures | 20,000 | 2,70,000 |
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