A Ltd. is preparing its financial statements for the year ended 31 March 20X2. During the year, the following transactions and events occurred: Loan…

A Ltd. is preparing its financial statements for the year ended 31 March 20X2. During the year, the following transactions and events occurred: Loan 1: 10 lakh, repayable on demand. Loan 2: ₹ 10 lakh, repayable after 3 years. The current market rate of interest for a similar loan is 10% p.a. At 31 March 20X2, A Ltd. had 500 units of chemicals in inventory. Since, the cost of manufacturing these chemicals is relatively high, they are currently valued at Net Realisable Value. On 1 February 20X2, A Ltd. entered into an agreement with the Government to sell 400 units at ₹ 10,000 per unit on 5 April 20X2. The remaining 100 units are expected to be sold during the following month at an expected selling price of ₹ 9,600 per unit. The selling price of the chemicals prevailing on 31 March 20X2 was ₹ 9,000 per unit. A Ltd. is installing new machinery at its plant. The machinery was purchased from R Ltd. The following expenditure was incurred in connection with the machinery: Particulars Amount (₹) Basic price as per supplier's invoice, including taxes 20,00,000 Initial delivery and handling costs 4,00,000 Site preparation costs 2,00,000 Interest charges paid to supplier for deferred credit 50,000 Present value of estimated dismantling costs after 10 years 1,00,000 Operating losses before commercial production 2,00,000 A Ltd. commenced commercial production after the machinery was installed and made ready for its intended use. A Ltd. also acquired an asset for ₹ 1,50,000. At 31 March 20X2, its carrying amount is ₹ 70,000, comprising cumulative depreciation of ₹ 50,000 and an impairment loss of ₹ 30,000. The depreciation rate for accounting purposes and tax purposes is the same. However, the impairment loss of ₹ 30,000 is not deductible for tax purposes. The applicable income-tax rate is 30%.