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[Solved] MGT401 Assignment 1 Solution & Discussion Fall 2019  

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admin
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27/11/2019 6:05 pm  

MGT401 Financial Accounting II Assignment 1 Solution & Discussion Fall 2019


SEMESTER FALL 2019
FINANCIAL ACCOUNTING II (MGT401)

ASSIGNMENT NO. 01

DUE DATE: NOVEMBER 28, 2019                      MARKS: 20

Assignment

Topic: “Related Parties” and “Inventory Valuation”

Part A:

The following transaction occurred between “C” Ltd and its parent, “T” Industries, for the financial year ended 31st December, 2015.

  • C Ltd borrowed an amount of Rs. 275,000 as a medium term loan from clean bank on 31st December 2015. 
  • The bank was not willing to grant the loan unless T Industries signed a guarantee against the loan. 
  • The loan is repayable in 24 monthly installments, the first on 31st January 2016. The market related interest rate on this loan is 20% per year compounded monthly. 
  • T industries do not make use of the debt in the financing of its operations. 

 

Requirement:

Discuss whether or not the above mentioned related party transaction requires disclosure in the financial statements of the parent company “T” Industries.

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admin
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27/11/2019 7:50 pm  

MGT401 Financial Accounting II Assignment 1 Solution & Discussion Fall 2019


 

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admin
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28/11/2019 9:20 pm  

MGT401 Financial Accounting II Assignment 1 Solution & Discussion Fall 2019


 

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