Ca final fr


18 March 2012  


Friends looking for help in FR of MP Vijay Kumar of CA Final in the topic of Consolidation of FS

In Problem -12

It has been mentioned that “Plant machinery stood at Rs. 1,50,000/- on 01.01.03 was considered as worth for Rs. 1,80,000/- on 01.07.03 ( the date of acquisition of 80% share); this figure ios to be considered while consolidating balance sheet

Mu query is that in profit we have revered the dep. Charged on 1.5 lacs for 6 months due to revaluation but in the book for the balance 6 months depreciation has been charged on 37500/- ( 30,000 cost of appreciation +7500/- reversal of depreciation)

But in my opinion depreciation for balance six months should have been charged on 1.8 lacs as the same is revalued figure of P&M


Please help friends 


THanking Every one in Advance