C Ltd. is preparing its financial statements for the year ended 31 March 20X4. The Board is scheduled to approve the financial statements on 30th…

C Ltd. is preparing its financial statements for the year ended 31 March 20X4. The Board is scheduled to approve the financial statements on 30th May 20X4. On 1st April, 20X3, C Ltd. issued 1,00,00010 bonds for 10,00,000. On 1st April, each year interest at the fixed rate of 8% per year is payable on outstanding capital amount of the bonds (i.e. the first payment will be made on 1st April, 20X4). On 1st April each year (i.e. from 1st April, 20X4), C Ltd. has a contractual obligation to redeem 10,000 of the bonds at 10 per bond. In its balance sheet at 31st March, 20X4, how should this be presented in the financial statements? C Ltd. sells a piece of machinery to the customer for 2 million, payable in 90 days. C Ltd. is aware at contract inception that the customer might not pay the full contract price. C Ltd. estimates that the customer will pay atleast - 1.75 million, which is sufficient to cover C Ltd.'s cost of sales i.e.1.5 million and which C Ltd. is willing to accept because it wants to grow its presence in this market. C Ltd. has granted similar price concessions in comparable contracts. C Ltd. concludes that it is highly probable that it will collect - 1.75 million and such amount is not constrained under the variable consideration guidance. On 15th April, 20X4, the company discovers a significant fraud that actually occurred during the financial years 20X1–20X2. The fraud involved overstatement of revenue by manipulating sales invoices during those earlier years. C Ltd. has recognised goodwill worth - 80,00,000 in the past for a business combination. During the current year, it has impaired the goodwill by - 16,00,000 and the carrying amount of goodwill is 64,00,000. Amortisation or impairment of goodwill is not deductible as per the tax regulations applicable in the jurisdiction, where C Ltd. files its tax returns. Applicable tax rate is 30%. Analyze the transactions mentioned above and choose the most appropriate option in the below mentioned questions 4 to 7 in line with the relevant Ind AS: