Why should the loan be calculated for this year in this question

[Syndy]

In the question the loan should be repaid in June starting from the year 2012 but in the answer the loan was in the balance sheet of year 2011 .
I dont also undertand the calculation of the loan.

Thank you very much for your help.

 

[Fidget]

Couple of pointers for you:

1. When do you record a transaction? Is it at the point it happens or at the point it is due to be paid/received?

2. There is a difference between current liabilities and non-current liabilities. The loan is being repaid over more than one period, therefore, some of it will be a current liability, and the rest of it will be a non current liability.

Clue: pay attention to the dates given in this (or any other scenario).

 

[Syndy]

Ok. Thank you for your help.