Question
An entity purchases 1,000 shares of X Ltd. at ₹120 per
share. Brokerage and taxes amount to ₹10,000. At year-end, the fair market value of the investment is ₹1,05,000. As per AS 13, what amount should be shown as the value of current investment in the balance sheet?Solution
As per AS 13, current investments are carried at lower of cost and fair value. • Cost = (1,000 × ₹120) + ₹10,000 = ₹1,30,000 • Fair value = ₹1,05,000 Hence, value in books = ₹1,05,000
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