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Question No 46 Chapter 8 – UNIMAX Class 12 Part 2 – 2021
46.From the following balance sheet of Jaskaran Ltd. As at 31st March ,2021 and 2022, prepare a cash flow statement.
BALANCE SHEET
| Particulars | Note No. | 31st March 2021(Amt.) | 31st March 2022(Amt.) |
| I. Equity and liabilities | |||
| (1) Shareholders’ funds | |||
| Equity Share Capital | 3,00,000 | 3,60,000 | |
| Reserve and Surplus | 1 | 1,60,000 | 2,00,000 |
| (2) Non- Current Liabilities | |||
| Long -term Borrowings | 2 | 2,62,000 | 3,78,000 |
| (3) Current Liabilities | |||
| Trade Payables | 3 | 28,000 | 28,000 |
| Other Current Liabilities (Outstanding Expenses) | 6,000 | 2,000 | |
| Total | 7,56,000 | 9,68,000 | |
| B. Assets | |||
| (1) Non-Current Assets | |||
| (a)Fixed Assets | |||
| (I)Tangible | 4 | 4,60,000 | 6,40,000 |
| (II)Intangible (Goodwill) | 20,000 | 10,000 | |
| (2) Current Assets | |||
| Investment (Stock) | 40,000 | 34,000 | |
| Trade Receivables | 5 | 1,36,000 | 1,68,000 |
| Other Current Assets | 20,000 | 16,000 | |
| Cash and Cash Equivalents | |||
| Cash at Bank | 80,000 | 1,00,000 | |
| Total | 7,56,000 | 9,68,000 |
Notes to Accounts
| Particulars | 31st March 2021(Amt.) | 31st March 2022Amt.) |
| 1.Reserve and Surplus | ||
| General Reserve | 60,000 | 60,000 |
| Balance of Statement of profit and loss | 1,00,000 | 1,40,000 |
| 1,60,000 | 2,00,000 | |
| 2. Long -term Borrowings | ||
| 12% Debentures | 1,02,000 | 1,38,000 |
| 12% public Deposits | 1,60,000 | 2,40,000 |
| 2,62,000 | 3,78,000 | |
| 3.Trade Payables | ||
| Creditors | 16,000 | 20,000 |
| Bills Payable | 12,000 | 8,000 |
| 28,000 | 28,000 | |
| 4.Fixed Assets (Tangible) | ||
| Building | 3,00,000 | 4,40,000 |
| Plant | 1,60,000 | 2,00,000 |
| 4,60,000 | 6,40,000 | |
| 5.Trade Receivables | ||
| Debtors | 1,20,000 | 1,50,000 |
| Bill Receivables | 16,000 | 18,000 |
| Total | 1,36,000 | 1,68,000 |
Additional Information:
I. Depreciation charged on building 20,000 and plant 10,000.
II. Interest paid on debentures 14,400. New debentures of 36,000 were issued om 1st October ,2021.
III. Interest paid on deposits from public 19,200 for the year.
The solution of Question No 46 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 as per Statement and Loss (1,40,000-1,00,000) | 40,000 | |
| (+) Goodwill Written off | 10,000 | |
| Depreciation on Building | 20,000 | |
| Depreciation on Plant | 10,000 | |
| Interest on Debentures Paid (to be shown under Financing Activities) | 14,400 | |
| Interest on Public Deposits Paid (to be shown under Financing Activities) | 19,200 | 73,600 |
| Operating Profit before Working capital Changes | 1,13,600 | |
| (+) Decrease in Current Assets and Increase in Current Liabilities | ||
| Stock (Inventories) (40,000-34,000) | 6,000 | |
| Other Current Assets (20,000-16,000) | 4,000 | |
| Creditors (20,000-16,000) | 4,000 | 14,000 |
| 1,27,600 | ||
| (-) Increase in Current Assets and decrease in Current Liabilities | ||
| Debtors (1,50,000-1,20,000) | (30,000) | |
| Bills Receivable (18,000-16,000) | (2,000) | |
| Bill Payable (12,000-8,000) | (4,000) | |
| Outstanding Expenses (6,000-2,000) | (4,000) | (40,000) |
| Net Cash from Operating Activities | 87,600 | |
| B. Cash Flow from investing Activities | ||
| Cash Payment for Building | (1,60,000) | |
| Cash Payment for Plant | (50,000) | |
| Net Cash used in investing Activities | (2,10,000) | |
| C. Cash Flow from Financing Activities | ||
| Cash Proceeds from issue of Equity Shares | 60,000 | – |
| Cash Proceeds from Issue of Debentures | 36,000 | – |
| Cash Proceeds from Public Deposits | 80,000 | – |
| Interest on Debentures Paid | (14,400) | |
| Interest on Public Deposits Paid | (19,200) | |
| Net Cash from Financing Activities | 1,42,400 | |
| Net Increase in Cash and Cash Equivalents(A+B+C) | 20,000 | |
| Cash and Cash Equivalents in the Beginning of the year | 80,000 | |
| Cash and Cash Equivalents in the End of the year | 1,00,000 |
Working Notes: 1
BUILDING ACCOUNT
| Particulars | ₹ | Particulars | ₹ |
| TO Balance b/d | 3,00,000 | By Depreciation | 20,000 |
| To Bank A/c (Purchase) (Balancing Figure) | 1,60,000 | By Balance c/d | 4,40,000 |
| 4,60,000 | 4,60,000 |
PLANT ACCOUNT
| Particulars | ₹ | Particulars | ₹ |
| TO Balance b/d | 1,60,000 | By Depreciation | 10,000 |
| To Bank A/c (Purchase) (Balancing Figure) | 50,000 | By Balance c/d | 2,00,000 |
| 2,10,000 | 2,10,000 |
End of Solution
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