Question

A Ltd owns land and building which are carried in its

Q: A Ltd owns land and building which are carried in its balance sheet at an aggregate carrying amount

Fairvalueoftheassetgivenupisusedtomeasurethecostoftheassetreceivedunlessthefairvalueoftheassetreceivedismoreclearlyevident

balance sheet at an aggregate carrying amount of 10 million. The fair value of such asset is 15 million. It exchanges the land and building for a private jet, which has a fair value of ₹20 million, and pays an additional 3 million in cash. As per Ind AS 16 what should be the cost?

A 10 million

B 15 million

C 18 million

D 20 million

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A Ltd owns land and building which are carried in its

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