Question
As per the Indian Accounting Standards, a company enters
into a lease for a building for 9 years, and the building's useful life is 10 years. The contract transfers ownership of the building at the end of the lease term. Determine the nature of this lease and how it should be treated in the books of the lessee.Solution
As per Ind-AS 116, if the lease term covers a major part of the asset life and ownership transfers, it's classified as a finance lease, recorded on balance sheet.
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The income of 'E' is Rs. 50,000 while the income of 'F' is 20% more than that of 'E'. The ratio of expenditure and savings of 'E' is 2:3, respectively. ...
Satyam and Aman have monthly salaries, including savings and expenditure, in the ratio 8:11. Aman's monthly savings are Rs. 12,000, and Satyam's savings...
- The salary of a person is increased by Rs. 500. If his old salary was 25% less than his new salary, then his old salary was:
A man invests ₹15,000 in a business. In the second year, he increases his investment by 20%, and in the third year, he reduces it by 25% of the second...
- The income of Kavita is (50/2)% more than the income of Sneha. How much percent less is Sneha’s income compared to Kavita’s?
