Financial Reporting - May 2018

Hold Limited acquired 100% ordinary shares of % 100 each of Sub 15 Limited on 1" October, 2017. On 31% March, 2018 the summarized Balance Sheets of the two companies were as given below : Hold Sub Particular Limited | Limited I Assets (1) Non-current Assets (i) Property, Plant & Equipment | (a) Land & Building 30,00,000 | 36,00,000 (b) Plant & Machinery 48,00,000 | 27,00,000 Gi) Investment in Sub Limited 68,00,000 . (2) Current Assets (i) Inventory 24,00,000 |…

(a) Notorola Limited has two divisions A and B. Division A has been 10 making constant profits while Division B has been invariably suffering lossés. On 31* March 2018, the division-wise draft extract of the Balance Sheet was as follows : (@ in crores) A B Total Fixed Assets Cost 500 1,000 1,500 Depreciation (450) (800) | (1,250) Net Fixed Assets (A) 50 200 250 Current Assets 400 1,000 1,400 Less : Current Liabilities (50) (800) (850) Net Current Assets…

Investments % 5,000 and unallocated assets & 5,000. - Unallocated liabilities, Reserves & Surplus and Share capital are % 10,000; % 15,000 and & 5,000 respectively. - Depreciation amounts for crushing and refining are % 500 and % 150 respectively. - Capital expenditure for crushing and refining are % 2,500 and % 1,000 respectively. - Revenue from outside India is % 15,000 and segment assets outside India % 5,000. Based on the above information, how Seeds Ltd. would disclose information…

Rights (SARs) that 10 vest immediately to its employees on 1 April 2015. The SARs will be settled in cash. At that date it is estimated using an option pricing model, that the fair value of a SAR is % 95. SAR can be exercised any time up to 31" March 2018. At the end of period on 31% March 2016 it is expected that 95% of total employees will exercise the option, 92% of total employees will.exercise the option…

(iii) What entry should the Lessee make on 31 March 2017 to record the guaranteed residual value Payment (assuming estimated residual value of = 2,000) and to clear the lease related accounts from the lessee’s books ? (iv) What would be the Current and Non-current classification in the books of Lessee in the first year ? (Discount factor : 2015 : 0.909; 2016 : 0.826; 2017 : 0.75 1) (a) XYZ Limited acquired 70% of equity shares of TUV Limited…