Raman Limited and Naman Limited decided to amalgamate and form a new company Rana Limited as on 31st March, 2023 and provided you the following information: ParticularsAs on 31st March, 2023Revalued Figures for Amalgamation Raman Limited (₹)Naman Limited (₹)Raman Limited (₹)Naman Limited (₹) Equity shares of ₹10 each6,72,0002,52,000 10% Preference Shares of ₹100 each3,36,0001,68,000 Reserves and Surplus5,44,2402,65,480 Trade Payables84,0001,76,00080,6401,68,960 Property, Plant and Equipment7,69,0004,36,40010,58,1005,20,100 Goodwill1,62,000-1,62,000- Inventories1,89,0001,17,6002,78,6202,06,780 Trade Receivables2,81,0001,47,0002,47,1401,38,180 Cash & Cash Equivalents2,35,2401,60,480 The purchase consideration is to be satisfied as follows: (i) By issue of 4 Preference Shares of ₹100 each in Rana Limited @ ₹85 paid up and at a premium of ₹30 per share for every 3 preference shares held in both the companies. (ii) By issue of 5 Equity shares of ₹10 each in Rana Limited @ ₹7 paid up and at a premium of ₹5 per share for every 3 equity shares held in both the companies. (iii) In addition, necessary cash should be paid to equity shareholders of both the companies as required to adjust the rights of shareholders of both the companies in accordance with the intrinsic value of the shares of both the companies. You are required to compute the purchase consideration for both the companies.

The following is the extract of Balance Sheet of Yellow Limited as on 31.03.2023: ₹ 4,00,000 Equity shares of ₹10 each40,00,000 General Reserve48,00,000 Profit & Loss Account10,00,000 Securities Premium18,00,000 Secured Loans60,00,000 Unsecured Loans32,00,000 Current Liabilities28,00,000 2,36,00,000 Property, Plant and Equipment90,00,000 Investments18,00,000 Current Assets1,28,00,000 2,36,00,000 The company intends to buy-back 80,000 equity shares of ₹10 each at a premium of 150%. You are required to state whether the company can buy back equity shares.

Rose Limited grants 3,000 stock options to its employees on 1.4.2020 at ₹50. The vesting period is two and a half years. The maximum exercise period is one year. Market price on that date is ₹80. Fair value per option is ₹30. All the options were exercised on 30.9.2023. You are required to pass the necessary journal entries if the face value of equity share is ₹10 per share.

Analyse the disclosure and presentation requirements of AS 24 for Discontinuing Operations (any five).

Panna Limited purchased software from Agate Limited for a period of 5 years and capitalized the cost. It provided you the following information: Cost of software ₹57,60,000. Expected Life cycle of the software 5 years The software was amortised at ₹6,40,000 per annum in first three years based on economic benefits derived from the software. After three years, it was found that the software may be used for another 5 years from then. So, Panna Limited got it renewed after expiry of five years for 3 more years. The net cash flows from the software during these 5 years were expected to be as follows: Year₹ Year 123,04,000 Year 229,44,000 Year 328,16,000 Year 4₹25,60,000 Year 5₹21,76,000 You are required to calculate the amortization cost of the software for each of the years. (5 Marks x 4 Parts = 20 Marks)