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Question No 53 Chapter 8 – UNIMAX Class 12 Part 2 – 2021
From the following particular, prepare cash Flow Statement:
Equity & Liabilities | ||
1.Shareholders’ Funds | ||
(a)share capital (note 1) | 5,00,000 | 5,50,000 |
(b) reserves and surplus (note 2) | 1,28,000 | 70,000 |
(2) non-current liabilities | ||
Trade payables | 99,000 | 75,000 |
Other current liabilities (bank overdraft) | 23,000 | 13,000 |
Short-term provisions (note 3) | 1,00,000 | 82,000 |
Total | 8,50,000 | 6,90,000 |
ii. assets | ||
(1) non-current assets | ||
Tangible fixed assets (net) | 3,70,000 | 2,80,000 |
Tangible assets (goodwill) | 90,000 | 1,15,000 |
(2) current assets | ||
Current investments | 10,000 | 15,000 |
Cash & cash equivalents | 41,000 | 23,000 |
Other current assets | 3,39,000 | 2,57,000 |
Total | 8,50,000 | 6,90,000 |
NOTE 1: SHARE CAPITAL
| Particulars | 31.03.2022 | 31.03.2021 | |
| Equity Share Capital | 4,00,000 | 3,00,000 | |
| 15% Preference Share Capital | 1,00,000 | 1,50,000 | |
| 5,00,000 | 5,50,000 | ||
Note 2: short- term provisions
| Particulars | 31.03.2022 | 31.03.2021 | |
| Provision for tax | 1,00,000 | 82,000 | |
| 1,00,000 | 82,000 | ||
Additional information: a machine costing 50,000 (depreciation provided thereon 30,000) was sold for 10,000. depreciation charged during the year was 20,000. Interim dividend paid, 20,000 paid, income-tax, 35,000 paid.
The solution of Question No 53 Chapter 8 – UNIMAX Class 12 Part 2 – 2021: –
CASH FLOW STATEMENT
| Particulars | 2022 | 2021 |
| I. Cash Flow from Operating Activities | ||
| A. Net Profit before tax | 1,43,000 | |
| B. Adjustments for Non- Cash and Non-Operating items: | ||
| Deprecation on Fixed Assets | 20,000 | |
| Loss on Sale of Machinery | 10,000 | |
| Goodwill amortized | 25,000 | 55,000 |
| C. operating profit before working capital changes | 1,98,500 | |
| D. changes in current assets & current liabilities: | ||
| Increase in trade payables | 24,000 | |
| Increase in other current assets | (82,000) | (58,000) |
| E. net cash flow from operating activities before tax | 1,40,500 | |
| F. less: tax paid | (35,000) | |
| G. net cash inflow from operating activities after tax | 1,05,500 | |
| II. cash flow from investing activities. | ||
| Sale of machinery | 10,000 | |
| Purchase of fixed assets | (1,30,000) | |
| Net cash used in investing activities | (1,20,000) | |
| III. cash flow from financing activities: | ||
| Increase bank overdraft | 10,000 | |
| Issue of share capital (1,00,000 + 10,000) | 1,10,000 | |
| Interim dividend paid on equity shares | (20,000) | |
| Redemption of preference shares | (50,000) | |
| Dividend on preference share | (22,500) | |
| Net cash used in financing activities | 27,500 | |
| IV. net increase in cash and cash equivalents (I + II +III) | 13,000 | |
| V. opening cash and cash equivalents (23,000 – 15,000) | 38,000 | |
| VI. closing cash and cash equivalents (41,000 – 10,000) | 51,000 |
Working notes:
Fixed assets account
| Particulars | ₹ | Particulars | ₹ |
| To balance b/d | 35,000 | By depreciation a/c. | 20,000 |
| To bank a/c (purchase) (b. f) | 1,30,000 | By bank a/c (sale) | 10,000 |
| By P&L a/c (loss) | 10,000 | ||
| By balance c/d | 3,70,000 | ||
| 4,10,000 | 4,10,000 |
End of Solution
Check Out the Solution of all questions for this chapter:
The solution to all questions of Chapter No. 8 – Cash Flow Statement Class 12 Unimax is shown as follows, click on the image of the question to get the solution.
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Question No 12 Chapter 8 – UNIMAX Class 12 Part 2 – 2021
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Question No 24 Chapter 8 – UNIMAX Class 12 Part 2 – 2021
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Question No 36 Chapter 8 – UNIMAX Class 12 Part 2 – 2021
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Question No 49 Chapter 8 – UNIMAX Class 12 Part 2 – 2021
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UnimaxSolutions.in offers a comprehensive solution for students studying Advanced Accountancy Part 1 in Class 12. With their meticulously curated study material, students can access comprehensive solutions to all the questions in each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 12 examinations.
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2. Comprehensive Solutions for All Chapters of Advanced Accountancy Part 2 Class 12 by Unimax
UnimaxSolutions.in presents an exceptional resource for students studying Advanced Accountancy Part 2 in Class 12. With their comprehensive study material, students can conveniently access extensive solutions to all the questions in each chapter. By simply selecting the desired chapter from the study material, students can effortlessly navigate through the topics and gain access to detailed explanations and step-by-step solutions to every problem presented in that particular section. Whether it involves understanding intricate accounting principles, honing calculation techniques, or analyzing complex financial statements, Unimax provides a valuable tool to support students in their learning journey. Equipped with these comprehensive solutions, students can enhance their comprehension, resolve any uncertainties, and strengthen their problem-solving abilities in Advanced Accountancy, empowering them to excel in their Class 12 examinations with confidence.
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Punjab School Education Board (PSEB) Solutions of Usha Publication.
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