Professional Documents
Culture Documents
Accountancy Set 2 Ms
Accountancy Set 2 Ms
OR
CREDITORS FOR MEDICINE ACCOUNT
737000 737000
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OR
Balance sheet
(i)Non Current liabilities. (ii) Non Current liabilities.
Long term Borrowings Long term Borrowings
HDFC Bank loan 45,00,000 HDFC Bank loan 45,00,000
(secured by 11% Debentures as collateral securities 11%Debenture 50,00,000
worth 50,00,000) Less debenture suspense 50,00,000 – NIL
---------------- --------------
4500000
To Bank 15,000
-----------------------------------
OR
Revaluation a/c-
Gupta 1950
11,700 11,700
Capital Accounts of partners
8. (a) No of debentures=45,00,000/150=30,000
(d) Machine ---Dr 50,00,000
To Vendor 50,00,000
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Vendor----Dr 50,00,000
Loss on issue of debentures ------Dr 7,50,000
To Debenture 30,00,000
To Securities premium 15,00,000
To premium on redemption 7,50,000
To bank 5,00,000
( For consideration settled by issue of debentures & part payment)
-------------------------------------------------------------------------------------
Securities Premium -----Dr 7,50,000
To Loss on issue of debentures 750,000
(for loss written off)
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Loss on issue of debentures Account
Particulars. Amount Particulars Amount.
7,50,000 7,50,000
9. Income & expenditure account for the year ending 31/3/21
Expenditure Amount Income Amount.
SURPLUS. 58900
1,04,200 1,04,200
Investments 30,000
2,68,900 2,68,900
PART B
ASSETS :
OR
12.
. Machinery account
Particulars Amount Particulars. Amount
To balance b/d 10,00,000 By Depreciation Provision 45,000
To Bank -purchase 11,50,000 By Bank 1,35,000
By Profit & Loss a/c 1,20,000
By Balance c/d 18,50,000
21,50,000 21,50,000
.
ACCUMULATED DEPRECIATION A/C
Particulars Amount Particulars. Amount
To Machinery a/c 45,000 By Balance b/d 1,00,000
To balance c/d 2,50,000 By Profit & loss 1,95,000
2,95,000 2,95,000
3,60,000 90,000