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QUESTIONS FROM PAST EXAM PAPERS

Q9 (May 19 – 4 Marks)

Mike Ltd. has undertaken following various transactions in the financial year ended 31.03.2018:

(a) Re-measurement of defined benefit plans · 1,54,200
(b) Current service cost 1,05,000
(c) Changes in revaluation surplus 75,000
(d) Gains and losses arising from translating the monetary 45,000
assets in foreign currency

(e) Gains and losses arising from translating the financial 39,000
statements of a foreign operation
(f) Gains and losses arising from investments in equity 60,000
instruments designated at fair value through other
comprehensive income
(g) Income tax expenses 21,000

(h) Share based payments cost 2,01,000
Identify and present the transactions in the financial statements as per IND AS 1.

SOLUTION

st
Items impacting the Statement of Profit and Loss for the year ended 31 March, 2018
(Rs.)

Current service cost 1,05,000
Gains and losses arising from translating the monetary 45,000
assets in foreign currency
Income tax expenses 21,000
Share based payments cost 2,01,000

st
Items impacting the Other Comprehensive Income for the year ended 31 March, 2018

(Rs.)

Remeasurement of defined benefit plans 1,54,200
Changes in revaluation surplus 75,000
Gains and losses arising from translating the financial

statements of a foreign operation 39,000
Gains and losses from investments in equity instruments

designated at fair value through other comprehensive income 60,000

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