CA Final doubt
As per IndAs 111, are these entries passed in all 3 books correct? Kindly guide
Asked by Parth22 Aug 2025932 views
2 answers
Kousik · 22 Aug 2025
The entries are correct, since A Ltd sold the asset to the joint operation at ₹80, the asset in the joint operation will be recorded at ₹80, and under the proportionate consolidation method, B Ltd will recognise its 40% share i.e. ₹32, while A Ltd will recognise its 60% share of ₹48 plus an adjustment of ₹12 for its retained interest, making its total share ₹60.
Tej · 22 Aug 2025
Yes, the entries are correct ✅
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