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.
₹ 6,900 is divided between L, M and N in the ratio of 6: 8: 9. If 'L' and 'M' each gave ₹ 300 to N then the new ratio of shares of L, M and N is:
The speeds of two trains are in the ratio 7:9. If the first train travels 315 km in 3 hours, how far will the second train travel in 5 hours?
A company produces three types of products: X, Y, and Z. Initially, the production ratio of X to Y to Z is 5:7:8. The total production of these three pr...
Ratio of cats to dogs in a shelter is 4:3. If 16 cats are adopted and 20 more dogs arrive, their numbers become the same. What was the initial number of...
If ₹19,500 is divided among ‘A’, ‘B’, ‘C’, and ‘D’ in the ratio 6:8:5:7, then find the share of ‘C’.
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If 50 less had applied and 25 less selected, the ratio of selected to unselected would have been 9 : 4. So how many candidates had applied if the ratio ...
Two partners, X and Y, invested in a business in the ratio of 5:8. After 5 months, X increased his capital by 25%, and 2 months later, he increased it a...
A plot has to be divided among P, Q and R in the ratio 3:4:6 respectively. If the area of plot received by R is 4800m ² more than the area of plot ...
