Following information of Sarah Limited is given: Sarah Limited uses Raw Material ‘A' for production of production of Finished Goods ‘B’ Closing balance of Raw Material ‘A' in units on 31st March,2022750 Price Per Unit in ₹ Cost Price150 Freight inward10 Replacement Cost152 Closing balance of Finished Good ‘B' in units on 31st March,20221,600 Price Per Unit in ₹ Material Consumed225 Direct Labour75 Direct variable overhead60 Total Fixed Overheads amounts to ₹1,00,000 on normal capacity of 20,000 units. You are required to calculate the value of Closing Stock of Raw materials and Closing Stock of Finished Goods, as on 31st March, 2022, as per AS 2, when selling price of Finished Goods ‘B' is ₹360 per unit.

Ridgeway Limited, a Non-Financial company has the following activities: (i) Dividend paid for the year. (ii) TDS on interest income earned on investments made. (iii) Loans and advances given to suppliers and interest earned from them. (iv) Deposit with bank for a term of two years. (v) Highly liquid Marketable Securities (without risk of change in value). (vi) Investments made and dividends earned on them. (vii) Insurance claims received against loss of stock or loss of profits. (viii) Loans and advances given to subsidiaries and interest earned from them. (ix) Issue of Bonus Shares. (x) Term loan repaid. You are required to classify the above activities in Cash Flow Statement as per ‘AS-3'.

Jared Limited purchased a Machine for US $ 20,000 on 31st December, 2021 payable after four months. It entered into a forward contract for four months @ 78.85 per US $. On 31st December,2021 the exchange rate was ₹77.50 per US $. How will you recognize the Profit or Loss on Forward Contract for the year ended 31st March, 2022 in the books of Jared Limited?

Trade Payables of Jared Limited includes amount due to Sterling Limited ₹9,75,000 recorded at the prevailing exchange rate on the date of purchase; transaction recorded at US $ 1 = ₹ 75.00. The exchange rate on Balance Sheet date (31st March, 2022) was US $ 1 = ₹ 79.00 The payment was made on 1st May,2022 when the exchange rate was US $ 1 = ₹78.30. You are required to calculate the amount of exchange difference on 31st March, 2022 and 1st May, 2022 and also explain the accounting treatment needed in the above case as per AS 11 in the books of Jared Limited.

An unquoted long term investment made in the shares of Rachel Limited is carried in the books of Ziva Limited at a cost of ₹ 1,00,000. The audited financial statements of Rachel Limited received in May,2021 showed that the company had been incurring cash losses with declining market share and the long term investment may not fetch more than ₹ 55,000.

On 1st December, 2021 Ziva Limited had made an investment of ₹5,00,000 in 4,000 Equity Shares of Garry Limited at a price of ₹ 125 per share with an intention to hold it for not more than six months. In the first week of March, 2022, Garry Limited suffered heavy loss due to an earthquake; the loss was not covered by an insurance policy. On 31st March,2022, the shares of Garry Ltd. were traded at a price of ₹80 per share on the Stock Exchange. How would you deal with the above investments in the books of Ziva Limited for the year ended 31st March,2022 as per the provisions of Accounting Standard 13 'Accounting for Investments'?