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Question No 42 Chapter 8 – UNIMAX Class 12 Part 2 – 2021
42. From the following information, prepare a Cash Flow Statement:
BALANCE SHEETS AS AT…….
| Particulars | 31.3.2022 | 31.3.2021 |
| I. Equity and liabilities | ||
| (1) Shareholders’ funds | ||
| (a)Share Capital (Note1) | 1,30,000 | 90,000 |
| (b)Reserves and surplus (note2) | 85,000 | 50,000 |
| (2) Non- Current Liabilities | ||
| (3) Current Liabilities | ||
| Trade payables | 22,000 | 17,400 |
| Total | 2,37,000 | 1,57,400 |
| B. Assets | ||
| (1) Non-Current Assets | ||
| Tangible Fixed Assets | 1,66,000 | 93,400 |
| Other Non- Current Assets (Preliminary Exp.) | – | 1,000 |
| (2) Current Assets | ||
| Inventories | 21,000 | 22,000 |
| Trade Receivables | 39,000 | 36,000 |
| Cash &Cash Equivalents | 6,000 | 5,000 |
| Short-term Loans &Advances (Adv. Tax) | 5,000 | – |
| Total | 2,37,000 | 1,57,400 |
NOTE 1: SHARE CAPITAL
| Particulars | 31.3.2022 ₹ | 31.3.2021 ₹ |
| Equity Shares of 10 each | 1,30,000 | 90,000 |
NOTE 2: RESERVES AND SURPLUS
| Particulars | 31.3.2022 ₹ | 31.3.2021 ₹ |
| General Reserve | 55,000 | 30,000 |
| Statement of Profit and Loss A/c | 30,000 | 20,000 |
| 85,000 | 50,000 |
Additional Information: Depreciation charged on fixed for the year 2021-22 was 20,000. Income Tax 5,000 has been paid in advance during the year.
The solution of Question No 42 Chapter 8 – UNIMAX Class 12 Part 2 – 2021: –
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31st MARCH . 2022
| Particulars | ₹ | ₹ |
| I. cash flow from operating activities | ||
| A.net profit before tax | 35,000 | |
| B. Adjustment for Non-Cash and Non-Operating items: | ||
| Depreciation | 20,000 | |
| Preliminary expenses written off | 1,000 | 21,000 |
| C. Operating profit before working capital changes (A+B) | 56,000 | |
| D. Changes in Current Assets &Current Liabilities | ||
| Decrease in Inventories | (1,000) | |
| Increase in Trade Receivables | (3,000) | |
| Increase in Trade Payables | 4,600 | (2,600) |
| E. Net Cash inflow from Operating Activities before Tax | 58,600 | |
| Less. Income taxes paid | (5,000) | |
| F. Net Cash Inflow from Operating Activities | 53,600 | |
| 2.Cash Flows from Investing Activities: | ||
| Purchase of Fixed Assets | (92,600) | |
| Net cash used in from Investing Activities | (92,600) | |
| 3.Cash Flow from Financing Activities: | ||
| Issue of share capital | 40,000 | |
| Net Cash Inflow from Financing Activities | 40,000 | |
| Net Cash inflow in cash and cash Equivalents (1+2+3) | 1,000 | |
| 5.Net Increase in cash and cash Equivalents at the Beginning of period | 5,000 | |
| 5.Cash and Cash Equivalents at end of Period (4+5) | 6,000 |
Working Notes:
| 1.Calculation of net profit before tax | ₹ |
| Closing Balance of profit &loss A/c | 30,000 |
| Less: Opening Balance of P&L A/c | (20,000) |
| Add: Transfer to Reserve | 25,000 |
| Net profit before tax | 35,000 |
2.FIXED ASSETS ACCCOUNT
| Particulars | ₹ | Particulars | ₹ |
| TO Balance b/d | 93,400 | By Depreciation A/c | 20,000 |
| To Bank A/c (Purchase) (b. f) | 92,600 | By Balance c/d | 1,66,000 |
| 1,86,000 | 1,86,000 |
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 49 Chapter 8 – UNIMAX Class 12 Part 2 – 2021
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1. Comprehensive Solutions for All Chapters of Advanced Accountancy Part 1 Class 12 by Unimax
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.
If you’re a student enrolled in the Punjab School Education Board Class 12, exploring a wide range of books to cover the syllabus thoroughly is essential. While the prescribed textbooks are undoubtedly valuable, supplementing your studies with additional resources can enhance your understanding and knowledge. Consider checking out other books that align with the curriculum, offering different perspectives and insights on the subjects you’re studying. These supplementary materials can provide you with alternative explanations, practice questions, and examples that may aid in clarifying complex concepts. Moreover, exploring diverse sources can expose you to various writing styles and viewpoints, fostering a broader understanding of the subjects. So, seize the opportunity to expand your learning by delving into other books that can complement your studies and contribute to your academic growth.
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