01-19-2010, 03:53 PM
Dear Friends,
Anyone can explain the following points in balance sheet according to the IAS 01.
1. Capital stock had been issued for a total consideration of Rs. 1,850,000 the amount received is in excess of par and stated values of the stock being reported as surplus. Capital stock represents 100,000 shares of Rs. 10 each.
2. Loan payable represents a loan from bank that is payable in regular quarterly installments of Rs. 20,000. Interest of Rs. 2,000 accrued on the loan on December 31, 2000 has been recorded in the books.
Skystar
Anyone can explain the following points in balance sheet according to the IAS 01.
1. Capital stock had been issued for a total consideration of Rs. 1,850,000 the amount received is in excess of par and stated values of the stock being reported as surplus. Capital stock represents 100,000 shares of Rs. 10 each.
2. Loan payable represents a loan from bank that is payable in regular quarterly installments of Rs. 20,000. Interest of Rs. 2,000 accrued on the loan on December 31, 2000 has been recorded in the books.
Skystar
