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    Question

    From the following information of XYZ Ltd. for the year

    ended 31st March, 2024, calculate the total Finance Costs: Interest paid on Term Loan: тВ╣2,50,000 Interest paid on Bank Overdraft: тВ╣35,000 Interest paid on Deposits: тВ╣75,000 Interest Received on Fixed Deposits: тВ╣25,000 Bank Charges: тВ╣9,500
    A тВ╣3,20,000 Correct Answer Incorrect Answer
    B тВ╣3,60,000 Correct Answer Incorrect Answer
    C тВ╣4,05,000 Correct Answer Incorrect Answer
    D тВ╣3,44,500 Correct Answer Incorrect Answer
    E тВ╣2,94,500 Correct Answer Incorrect Answer

    Solution

    The total Finance Costs to be shown in the Statement of Profit and Loss includes: Interest paid on Term Loan: тВ╣2,50,000 Interest paid on Bank Overdraft: тВ╣35,000 Interest paid on Deposits: тВ╣75,000 Total Finance Costs = тВ╣2,50,000 + тВ╣35,000 + тВ╣75,000 = тВ╣3,60,000 Note: Interest received on Fixed Deposits and Bank Charges are not included in the Finance Costs.

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