5. What is the amount to be recognized as Revenue as per AS 9 in the books of Kay Ltd. as on 31 March, 2024?
Options
A` 23,50,000
B` 1,50,000
C` 23,00,000
D` 1,00,000
For any discrepancies in this question, email contact@cadada.in
Advanced AccountingQuestion 5329 of 305
All Questions Correct Answer
✅ Option A — ` 23,50,000
All Options:
- A` 23,50,000 ✓
- B` 1,50,000
- C` 23,00,000
- D` 1,00,000
Ad
Detailed Solution & Explanation
To calculate the revenue to be recognized as on 31st March, 2024 under AS 9:
1. Sale to Ravi Kumar (goods of sold on 1st Feb, delivery delayed at buyer's request). Since conditions for delayed delivery are met, revenue of is recognized.
2. Sale on approval to Sheetal Enterprises ( goods, 3 months approval period ending 31st March):
- 50% approved =
- 25% unreturned (period expired on 31st March, so deemed approved) =
- Total approval revenue =
3. Total revenue = .
Hence, **Option A** is the correct answer.
1. Sale to Ravi Kumar (goods of sold on 1st Feb, delivery delayed at buyer's request). Since conditions for delayed delivery are met, revenue of is recognized.
2. Sale on approval to Sheetal Enterprises ( goods, 3 months approval period ending 31st March):
- 50% approved =
- 25% unreturned (period expired on 31st March, so deemed approved) =
- Total approval revenue =
3. Total revenue = .
Hence, **Option A** is the correct answer.
More Questions from Advanced Accounting
the duplicate ratio of then find the value .
If the ratio of two numbers is . If is added to each number then the new ratio will be then the numbers are.
If then is
The ratio of two numbers are . The difference of their squares is greater is:
The price of scooter and moped are in the ratio . The price of moped is more than that of scooter. Then the price of moped is:
If , then
Ready to Master Advanced Accounting?
Practice all 305 questions with instant feedback, earn XP, track your streaks, and ace your CA Foundation exam.
Start Practicing — It's Free