1.

Ernakulam Textiles Ltd. raised the following long term loans in 1st April, 2017: Rs.60,000, 8% Debentures of Rs. 100 each redeemable infour equal annual instalments beginning1st January, 201960,00,00012% Bank Loan from Axis Bank repayable after 4 years20,00,000 Interest on Debentures and Bank Loan has not yet been paid. You are required to show the above items in the Balance Sheet of the Company as at 31st March, 2018

Answer»

Ernakulam Textiles Ltd. raised the following long term loans in 1st April, 2017:

Rs.60,000, 8% Debentures of Rs. 100 each redeemable infour equal annual instalments beginning1st January, 201960,00,00012% Bank Loan from Axis Bank repayable after 4 years20,00,000
Interest on Debentures and Bank Loan has not yet been paid.
You are required to show the above items in the Balance Sheet of the Company as at 31st March, 2018



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