Question
A company purchases machinery for ₹10 lakh. Estimated
dismantling cost after 5 years is ₹1 lakh. The dismantling obligation is present as per contract. What should be the cost of asset as per Ind AS 16?Solution
Ind AS 16 requires that if a present obligation exists to dismantle an asset in the future, the estimated dismantling cost must be added to the cost of the asset and provided as a liability at present value.
The selling price of an item, when sold at a 35% profit, is Rs. 168 higher than its selling price when sold at a 5% loss. If the ...
- A shopkeeper buys a total of 27 items, consisting of tables and chairs. The cost price ratio of one table to one chair is 20:9. Each table is sold at a 25%...
A shopkeeper bought an article and marked it at Rs. 350. By selling the article at a discount of 4%, he earns a profit of 20%. Find the cost price of th...
A product with a marked price of Rs. 3200 was sold at Rs. 2048 after applying two successive discounts of z% each. Find the discount percentage z.
A merchant has 150 Kg of rice, part of which he sells at 8% profit and the rest at 2% loss. If he gains 4.67% on the whole, the quantity sold at 8% prof...
The cost price of article A and B is Rs. ‘X’ and Rs. (X + 750), respectively. Article A is sold at 20% profit while article B is sold at 10% loss. I...
Neha sold a product to Sanjana at a 20% profit. Sanjana then sold it to Meera, earning the same absolute profit (in Rs.) that Neha made. Finally, Meera ...
Cost price of an article is 25% less than its marked price of article. The item is then sold for Rs. 5,950, achieving a profit margin of (40/3)%. Calcul...
An article is marked 50% above its cost price, making the marked price Rs. 1,200 more than its cost price. If the article is sold at a profit of Rs. 600...
Zara purchased a microwave for Rs. 2400 and spent some amount on service. She marked it up by 25%, gave a Rs. 360 discount, and earned a 15% profit. Fin...
