Finally, prepared a suggested answers for all the questions except Q2 and Q4, just go through it and let me know if you have different opinion or point to solve it. 1(a) Provision to be made for warranty under AS29 Amount At 31st March 2017 = 80,000 X 2% + 50,000 X 3% 3,100 At 31st March 2018 = 50,000 X 2% + 180000 X 3% 6,400 Amount to be debited to SPL for 31st March 2018 Balance of provision required as on 31st March 2018 6,400 Less opening balance (3,100) Amount debited to SPL 3,300 No provision for 80,000 for 31St March 2018 because warranty has lapsed 1(b) ...
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