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Question 45 Chapter 8 – Unimax Publication Class 12 Part 2 – 2021
45. From the following balance sheet of Shri Ltd., prepare Cash flow statement as per AS-3(Revises).
BALANCE SHEET
| Particulars | 31.3.2022 | 31.3.2021 |
| I. Equity and liabilities | ||
| (1) Shareholders’ funds | ||
| (a)Share Capital (Note1) | 8,50,000 | 4,60,000 |
| (b)Reserves and surplus (note2) | 1,70,000 | 2,40,000 |
| (2) Non- Current Liabilities (10% Debentures) | 1,80,000 | 2,00,000 |
| (3) Current Liabilities | – | – |
| Total | 12,00,000 | 9,00,000 |
| B. Assets | ||
| (1) Non-Current Assets | ||
| Tangible Fixed Assets | 7,00,000 | 5,00,000 |
| (2) Current Assets | ||
| Inventories | 2,50,000 | 2,10,000 |
| Trade Receivables | 1,90,000 | 1,40,000 |
| Cash &Cash Equivalents | 60,000 | 50,000 |
| Total | 12,00,000 | 9,00,000 |
NOTE 1: SHARE CAPITAL
| Particulars | 31.3.2022 ₹ | 31.3.2021 ₹ |
| Equity Share Capital | 7,50,000 | 4,00,000 |
| 8% Pref. Share Capital | 1,00,000 | 60,000 |
| 8,50,000 | 4,60,000 |
NOTE 2: RESERVES AND SURPLUS
| Particulars | 31.3.2022 ₹ | 31.3.2021 ₹ |
| General Reserve | 50,000 | 70,000 |
| Statement of Profit and Loss A/c | 1,20,000 | 1,70,000 |
| 1,70,000 | 2,40,000 |
Additional Information: During the year a machine costing 70,000(Depreciation provided thereon 10,000) was sold for 50,000, Dividend paid 80,000. Depreciation provided during the year 20,000.
The solution of Question No 45 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 | 10,000 | |
| B. Adjustment for Non-Cash and Non-Operating items: | ||
| Interest on Debentures (2,00,000 x10/100) | 20,000 | |
| 8% Dividend on Pref. Share | 4,800 | |
| Loss on Sale of Machinery | 10,000 | |
| Depreciation | 20,000 | |
| C. Operating profit before working capital changes (A+B) | 64,800 | |
| D. Changes in Current Assets &Current Liabilities | ||
| Increase in Inventories | (40,000) | |
| Increase in Trade Receivables | (50,000) | (90,000) |
| E. Net Cash inflow from Operating Activities before Tax | (25,200) | |
| Less. Income taxes paid | – | |
| F. Net Cash used in Operating Activities | (30,000) | |
| 2.Cash Flows from Investing Activities: | ||
| Sale of Fixed Assets | 50,000 | |
| Purchase of Fixed Assets | (280,000) | |
| Net cash used in from Investing Activities | (2,30,000) | |
| 3.Cash Flow from Financing Activities: | ||
| 8% Dividend on Pref. Share | (4,800) | |
| Issue of Equity Share Capital | 3,50,000 | |
| Issue of Preference Shares | 40,000 | |
| Redemption of Debentures | (20,000) | |
| Interest paid on Debentures | (20,000) | |
| Dividend paid | (80,000) | |
| Net Cash Inflow from Financing Activities | 2,65,200 | |
| Net Cash inflow in cash and cash Equivalents (1+2+3) | 10,000 | |
| 5. cash and cash Equivalents at the Beginning of period | 50,000 | |
| 6.Cash and Cash Equivalents at end of Period (4+5) | 60,000 |
Working Notes:
| 1.Calculation of net profit before tax | ₹ |
| Closing Balance of profit &loss A/c | 1,20,000 |
| Less: Opening Balance of P&L A/c | (1,70,000) |
| Add: Dividend paid | 80,000 |
| Less: Transfer from Reserve (50,000 -70,000) | (20,000) |
| Net profit before tax | 10,000 |
2.FIXED ASSETS ACCCOUNT
| Particulars | ₹ | Particulars | ₹ |
| TO Balance b/d | 5,00,000 | By Bank A/c (Sale) | 50,000 |
| To Bank A/c (Purchase) (b. f) | 2,80,000 | By P& L A/c (Loss) | 10,000 |
| BY Depreciation A/c | 20,000 | ||
| By Balance c/d | 7,00,000 | ||
| 7,80,000 | 7,80,000 |
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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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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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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