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QUESTION 155 Blue-chip Equity Investments Ltd., wants to re-classify its investments in accordance with AS 13 (Revised).
Posted: Mon Apr 25, 2022 7:26 am
by answerhappygod
- Question 155 Blue Chip Equity Investments Ltd Wants To Re Classify Its Investments In Accordance With As 13 Revised 1 (52.56 KiB) Viewed 31 times
QUESTION 155 Blue-chip Equity Investments Ltd., wants to re-classify its investments in accordance with AS 13 (Revised). State the values, at which the investments have to be reclassified in the following cases: (i) Long term investments in
Company A, costing * 8.5 lakhs are to be re-classified as current. The
company had reduced the value of these investments to 6.5 lakhs to recognise 'other than temporary' decline in value. The fair value on date of transfer is 6.8 lakhs. (ii) Long term investments in
Company B, costing # 7 lakhs are to be re-classified as current. The fair value on date of transfer is 8 lakhs and book value is *7 lakhs.