Financial Reporting - Nov 2024 RTP

When and by what amount the revenue be recognized with respect to sales made on 1st October, 20X6? (a) On 1st October, 20X6 by ` 1,21,000 (b) On 1st October, 20X6 by ` 1,00,000 (c) On 1st October, 20X6 by ` 80,000 (d) On 31st December, 20X6 by ` 1,00,000

What will be the amount of finance income to be recognized with respect to sales in the year 20X6-20X7? (a) ` 5,000 (b) ` 2,500 (c) ` 10,000 (d) ` 2,000

What will be the amount of Trade Receivable as on 31st March 20X7, against the sale made on 1st October 20X6? (a) ` 1,21,000 (b) ` 1,00,000 (c) ` 1,02,500 (d) ` 1,05,000 2 NOVEMBER 2024 EXAMINATION REVISION TEST PAPER

What will be the amount of revenue to be recognized in the year 20X5-20X6 with respect to sales arrangement with B Ltd.? (a) ` 20,00,000 (b) ` 18,00,000 (c) ` 55,00,000 (d) ` 49,50,000

What will be the amount of revenue to be recognized in the year 20X6-20X7 with respect to sales arrangement with B Ltd.? (a) ` 35,00,000 (b) ` 29,50,000 (c) ` 55,00,000 (d) ` 49,50,000 Case Scenario II M/s XYZ & Co. is an auditing firm. During his audit, the firm is facing difficulty in accounting of the following transaction for which, it seeks your answer: (i) A Ltd. has established a defined benefit pension plan for its eligible employees. The…

What is the amount of net adjustment to be made in the statement of profit and loss for the year 20X6-20X7 with respect to defined benefit pension plan? (a) ` 7 crore added back to the profit of the year 20X6-20X7 (b) ` 6 crore deducted from the profit of the year 20X6-20X7 (c) ` 0.5 crore deducted from the profit of the year 20X6-20X7 (d) ` 1.5 crore deducted from the profit of the year 20X6-20X7

What is the amount of actuarial gain/(loss) on defined benefit pension plan for the year 20X6-20X7? (a) ` 1.5 crore (b) ` 1.25 crore (c) ` 1 crore (d) ` 0.5 crore

What is the original provision required to be made on account of restoration of non-current asset in the year 2XX0-2XX1? (a) ` 0.78 crore (b) ` 0.125 crore 4 NOVEMBER 2024 EXAMINATION REVISION TEST PAPER (c) ` 0.039 crore (d) No provision was required in the year 2XX0-2XX1 as it is the expense of the year 2X19-2X20