X Ltd. purchased 3,000 shares of Amazing Ltd. in December 2023 @100 each and paid brokerage @ 1%. In May 2024, Amazing Ltd. issued bonus shares at…
CA Intermediate · Advanced Accounting · MTP · January 2025
X Ltd. purchased 3,000 shares of Amazing Ltd. in December 2023 @100 each and paid brokerage @ 1%. In May 2024, Amazing Ltd. issued bonus shares at one for every three shares held by shareholders. X Ltd. sold 1000 shares in September 2024 at 110 each. After issue of bonus, shares were quoted at 95. In December 2024, the shares were quoted at 70.
Suggested Answer and Working Notes:
Correct Answer: Option (B)
₹ 2,27,250
Topics: Preparation of Financial Statements
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