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Question No 50 Chapter 8 – UNIMAX Class 12 Part 2 – 2021

Question No 50 Chapter 8 – UNIMAX Class 12 Part 2 – 2021

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Question No 50 Chapter 8 – UNIMAX Class 12 Part 2 – 2021

Balance Sheets of A as on 1.1.22 and 31.12.22 were as follows:

Liabilities1.1.2231.12.22Assets1.1.2231.12.22
Creditors40,00044,000Cash10,0007,000
Mr. X’s Loan25,000Debtors30,00050,000
Bank Loan40,00050,000Stock40,00025,000
Capital1,25,0001,53,000Machinery80,00055,000
   Land and Building70,0001,10,000
 2,30,0002,47,000 2,30,0002,47,000

During the year a machine costing 10,000 (accumulated depreciation 3,000) was sold for 5,000. Depreciation provided during the year was 18,000. Drawings during the year were17,000. You are required to prepare cash Flow Statement.

The solution of Question No 50 Chapter 8 – UNIMAX Class 12 Part 2 – 2021: –

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31st DEC,2022

Particulars
A. Cash Flow from Operating Activities   
Net Profit  45,000
Add: Depreciation 18,000 
Loss on Sale Machinery 2,00020,000
   65,000
Add: Increase in Current liabilities   
Creditors4,000  
Decrease in Current Assets15,00019,00019,000
Stock  84,000
Less: Increase in Current Assets   
Debtors (20,000)(20,000)
Purchase of Land and building  64,000
Cash Flow from Operating Activities   
B. Cash Flow from investing Activities   
Purchase of Land and Buildings (40,000) 
Sale of Machinery 5,000 
Cash used in Investing Activities  (35,000)
C. Cash Flow from Financing Activities:   
Repayment of Mrs. A’s Loan (25,000) 
Raising of Bank loan 10,000 
Drawings (17,000) 
Cash used in Financing Activities  (32,000)
Net Decrease in cash and cash equivalents  (3,000)
Opening Cash Balance  10,000
Closing cash balance  7,000

Working Notes:

CAPITAL A/C

Particulars Particulars
To Drawings17,000To Balance b/d1,25,000
To balance c/d1,53,000By Net Profit (b.f.)45,000
    
 1,70,000 1,70,000

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.

Question No 02 Chapter 8 – UNIMAX Class 12 Part 2 – 2021

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Question No 14 Chapter 8 – UNIMAX Class 12 Part 2 – 2021

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Question No 26 Chapter 8 – UNIMAX Class 12 Part 2 – 2021

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Question No 38 Chapter 8 – UNIMAX Class 12 Part 2 – 2021

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Question No 51 Chapter 8 – UNIMAX Class 12 Part 2 – 2021

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Check out all books for PSEB

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.

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.

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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