Question
In preparing financial statements as per Schedule III of
the Companies Act, ABC Ltd. classifies ‘Share Application Money Pending Allotment’ under current liabilities. The amount is intended for equity shares and complies with conditions of allotment. Is this classification correct?Solution
If the conditions of allotment are met, such application money is part of equity and not a liability.
Which of the following is not shown in the statement of profit and loss under Ind AS?
Which of the following is a non-current liability?
XYZ Ltd. classifies bank overdraft under 'Cash and Cash Equivalents' in the balance sheet. The overdraft is repayable on demand and regularly fluctuates...
As per Ind AS 1, an entity must present a Statement of Changes in Equity (SOCIE) to show:
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As per Schedule III of the Companies Act, 2013, "Securities Premium Reserve" is shown under:
As per Ind AS 16, subsequent expenditure on property, plant and equipment is capitalized when it:
While preparing financial statements under Schedule III of the Companies Act, 2013, which of the following items must mandatorily be disclosed under "Ot...
