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Question No 44 Chapter 8 – UNIMAX Class 12 Part 2 – 2021
44.From the following information, Calculate Net Cash Flow from Operating Activities and Financing Activities:
BALANCE SHEETS AS AT…….
| Particulars | 31.3.2022 | 31.3.2021 |
| I. Equity and liabilities | ||
| (1) Shareholders’ funds | ||
| (a)Share Capital (Note1) | 7,50,000 | 7,50,000 |
| (b)Reserves and surplus (note2) | 3,60,000 | 20,000 |
| (2) Non- Current Liabilities (18% Debentures) | 2,60,000 | 1,50,000 |
| (3) Current Liabilities | ||
| Short -term Borrowings (8% Bank Loan) | 40,000 | 50,000 |
| Trade Payables | 1,05,000 | 1,00,000 |
| Other Current Liabilities (Bank Overdraft) | 15,000 | 10,000 |
| Total | 15,30,000 | 10,80,000 |
| B. Assets | ||
| (1) Non-Current Assets | ||
| Tangible Fixed Assets (Net) | 8,60,000 | 6,20,000 |
| Intangible Assets (Goodwill) | 15,000 | 20,000 |
| Non- Current Investments | 1,25,000 | 80,000 |
| Non- Current Investments | – | 20,000 |
| (2) Current Assets | ||
| Current Investments | 5,000 | 15,000 |
| Cash & Cash Equivalents | 1,25,000 | 25,000 |
| Short -term loans & Advances (Adv. Tax.) | 5,000 | – |
| Other Current Assets | 3,95,000 | 3,00,000 |
| Total | 15,30,000 | 10,80,000 |
NOTE 1: SHARE CAPITAL
| Particulars | 31.3.2022 ₹ | 31.3.2021 ₹ |
| Equity Share Capital | 5,50,000 | 4,50,000 |
| 5% Pref. Share Capital | 2,00,000 | 3,00,000 |
| 7,50,000 | 7,50,000 |
NOTE 2: RESERVES AND SURPLUS
| Particulars | 31.3.2022 ₹ | 31.3.2021 ₹ |
| General Reserve | 1,50,000 | 1,20,000 |
| Profit and Loss A/c | 2,00,000 | (1,00,000) |
| Securities premium | 10,000 | – |
| 1,70,000 | 20,000 |
Additional Information: A piece of machinery costing 60,000 on which depreciation charged was 20,000 was sold for sold for 20,000. Depreciation provided on Fixed Assets 60,000. Preference shares were issued redeemed at a premium of 5% on 31st March ,2022. Additional Debentures were issued at par on 1st October ,2021 and bank loan was repaid on the same date. Dividend on equity shares @ 8% was paid on opening balance. Income tax 5,000 has been paid in advance during the year.
The solution of Question No 44 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 | ||
| Net profit before tax | 3,81,000 | |
| Adjustment for Non-Cash and Non-Operating Activities | ||
| Dep. on Fixed Assets | 60,000 | |
| Loss on sale of machinery | 20,000 | |
| Interest on Debentures | ||
| (1,50,000 x 8/100) +(1,10,000 x 8/100 x 6/12) | 16,400 | |
| Interest on Bank Loan | ||
| (50,000 x 8/100 x 6/12) +(40,000 x 8/100 x 6/12) | 3,600 | |
| Goodwill Amort | 5,000 | |
| Preliminary Exp. written off | 20,000 | |
| Premium on Redemption of Preference Shares | 5,000 | 1,30,000 |
| Operating Profit before Working Capital Changes | 5,11,000 | |
| Change in CA &CL | ||
| Increase in other CA | (95,000) | |
| Increase in CL | 5,000 | (90,000) |
| Net Cashflow from Op. Activities before Tax | 4,21,000 | |
| Less Tx Paid | (5,000) | |
| Net Cashflow from Op. Activities after Tax | 4,16,000 | |
| II. Cash Flow from Investing Activities: | ||
| Sale | 20,000 | |
| Purchase | (3,40,000) | (3,65,000) |
| Investment Purchase | (45,000) | |
| III. Cash Flow from Financing Activities: | ||
| Issue of Share Capital (1,00,000+10,000) | 1,10,000 | |
| Issue of Debentures | 1,10,000 | |
| Interest on Debentures | (16,400) | |
| Interest on Bank Loan | (3,600) | |
| Dividend on Equity Shares | (36,000) | |
| Dividend on Preference Shares | (15,000) | |
| Redemption of Preference Shares (1,00,000+5,000) | (1,05,000) | |
| Bank Loan Repaid | (5,000) | |
| Net Cash used from Financing Activities | (39,000) |
Working Notes: (1)
| 1.Calculation of net profit before tax | ₹ |
| Closing Balance of profit &loss A/c | 2,00,000 |
| Add: Opening Balance of P&L A/c (Dr.) | 1,00,000 |
| Add: Transfer to Reserves | 30,000 |
| Add: Dividend on Equity Shares | 36,000 |
| Add: Dividend on Pref. Shares | 15,000 |
| Net profit before tax | 3,81,000 |
Working Notes: (2)
2. FIXED ASSETS ACCCOUNT
| Particulars | ₹ | Particulars | ₹ |
| TO Balance b/d | 6,20,000 | By Dep A/c | 60,000 |
| To Bank A/c (Purchase) (b. f) | By Bank A/c Sales | 20,000 | |
| (Purchased B. fig) | 3,40,000 | By P& L A/c Loss | 20,000 |
| By Balance c/d | 8,60,000 | ||
| 9,60,000 | 9,60,000 |
End of Solution
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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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