TQ Cycles Ltd. is in the manufacturing of bicycles, a labour intensive manufacturing sector. In April 2022, the Government enhanced the minimum wages payable to workers with retrospective effect from the 1st January, 2022. Due to this legislative change, the additional wages for the period from January 2022 to March 2022 amounted to ₹ 30 lakhs. The management asked the Finance manager to charge 30 lakhs as prior period item while finalizing financial statements for the year 2022-23. Further, the Finance manager is of the view that this amount being abnormal should be disclosed as extra-ordinary item in the Profit and loss account for the financial year 2021-22. Discuss with reference to applicable Accounting Standards.

NAT, a listed entity, as on 1st April, 2021 had the following capital structure: 10,00,000 Equity Shares having face value of ₹1 each ₹ 10,00,000 10,00,000 8% Preference Shares having face value of ₹10 each 1,00,00,000 During the year 2021-2022, the company had profit after tax of ₹90,00,000. On 1st January, 2022, NAT made a bonus issue of one equity share for every 2 equity shares outstanding as at 31st December, 2021. On 1st January, 2022, NAT issued 2,00,000 equity shares of ₹ 1 each at their full market price of ₹ 7.60 per share. NAT's shares were trading at ₹8.05 per share on 31st March, 2022. Further it has been provided that the basic earnings per share for the year ended 31st March, 2021 was previously reported at 62.30. You are required to:

Alloy Fabrication Limited is engaged in manufacturing of iron and steel rods. The company is in the process of finalisation of the accounts for the year ended 31st March, 2022 and needs your advice on the following issues in line with the provisions of AS-29:

Grace Ltd., a firm of contractors provided the following information in respect of a contract for the year ended on 31st March, 2022: Particulars (in '000) Fixed Price Contract with an escalation clause 35,000 Work Certified 17,500 Work not Certified (includes ₹ 26,25,000 for materials issued, out of which material lying unused at the end of the period is ₹1,40,000) 3,815 Estimated further cost to completion 17,325 Progress Payment Received 14,000 Payment to be Received 4,900 Escalation in cost is by 8% and accordingly the contract price is increased by 8% From the above information, you are required to: