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
Explanation: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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