CA SANJAY TALWAR (Job) (222 Points)
24 February 2011
regarding AS-23
BRIGHT Ltd. Acquired 30% of East India Ltd. Shares for Rs. 2,00,000 on 01-06-09. By such an acquisition Bright can excise significant influence over East India Ltd. During the financial year ending on 31-03-09
Calculate the carrying amount of investment in
Can anyone pls solve ???? its very urgent ????
CA SANJAY TALWAR
(Job)
(222 Points)
Replied 24 February 2011
sir,
we answered for stand alone financial statement ( Seperate finanical statement)
can u pls answer me wht will be the investment amount in Bright's Consolidated financial statement
(Assume East India Ltd is associated of Bright Ltd.)
Apply AS-23 and answer
CA SANJAY TALWAR
(Job)
(222 Points)
Replied 25 February 2011
according to me the answer for the above mention question is Rs. 260,000
Value of Investment : 2,00,000.00
Less: Pre Acu. Dividend 50,000*30% (08-09) 15,000.00
Add : Post Acu. Profits i.e from 01.06.2009 to 31.03.2010 3,00,000.00 / 12 * 10 * 30% 75,000.00
Show in CBS as per AS-23 2,60,000.00
sir can u pls tell me why we deduct pre profits
and post profits is not Rs 3,00,000/- its 3,00,000/12*10
pls reply
CAclubindia
