1- Earning per share ka practical question tha ….3 marks
2- What are the limitations on "Restrospective Restatements" with respect to IAS-08? 3 marks
If:
- Accounts payable at beginning Rs. 250,000
- Accounts payable at the end 190,000
- Credit purchases 200,000
Briefly describe the following basis for measuring the elements of Financial Statements with respect to the IASB’s Framework……5 marks
- Historical Cost
- Current Cost
A Limited Company acquired an asset on lease; the fair value of the asset is Rs. 59,738. The Company has to pay Rs. 10,000 as down payment and Rs. 20,000 annually for three years. The interest rate implicit in the lease is 10% p.a. You are required to calculate the present value of Minimum Lease Payment….5 marks
Q- Maple leaf public limited company is engaged in production of ceramics tiles and fittings. Company made the following transaction for the year ended December 31, 2009
5 marks
Accounting records | Rs. |
| Purchased real estate for cash, which was borrowed from bank | 550,000 |
| Sold investment securities Sold investment securities | 800,000 |
| Paid dividend | 660,000 |
| Issued 5,000 ordinary shares for Rs.50 | 250,000 |
| Purchased machinery and equipment | 125,000 |
| Paid bank loan | 450,000 |
| Reduced account receivable | 100,000 |
| Increased account payable | 200,000 |
Required:
Calculated the value of net cash flow from investing activities for the year ended December 31, 2009
For what purpose Prospectus is issued by the Companies? Issuance of prospectus for all types of entities? 5 marks
rest were MCQZ
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