Mr. Agrim sold shares of Ranbaxy Ltd. in 2009-10 for Rs. 24,00,000 which he had purchased For Rs. 10,00,000 in 2001-02. The General price index in 2001-02 and 2009-10 was 100 and 340 respectively. Calculate the business result from the sale of shares under CPP accounting. What would have been the result nad historical accounting been followed?

Mr. Agrim sold shares of Ranbaxy Ltd. in 2009-10 for Rs. 24,00,000 which he had purchased For Rs. 10,00,000 in 2001-02. The General price index in 2001-02 and 2009-10 was 100 and 340 respectively. Calculate the business result from the sale of shares under CPP accounting. What would have been the result nad historical accounting been followed?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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