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Question No 52 Chapter 8 – UNIMAX Class 12 Part 2 – 2021
52. From the following particular, prepare cash Flow Statement:
Equity & Liabilities | ||
2. Non-Current Liabilities (15%Debentures) | ||
(a) Equity Share Capital (note 1) | 1,11,600 | 90,000 |
(b) Reserve and Surplus (note2) | 16,800 | 12,000 |
1. Non -Current Assets | 34,000 | 22,000 |
3. Current Liabilities | ||
Trade Payables | 22,000 | 24,000 |
Other Current Liabilities (Bank Overdraft) | 11,600 | 25,000 |
Total | 1,96,000 | 1,73,000 |
B. Assets | ||
2. Current Assets | ||
Tangible Fixed Assets (net) | 49,000 | 55,000 |
Intangible Assets(patents) | 1,000 | 5,000 |
Non-Current Investment | 20,000 | 10,000 |
Short-term Loans & Advances (Adv. Tax) | ||
Current Investment | 5,000 | 2,000 |
Cash and Cash Equivalents | 2,000 | 400 |
Short -term Loans & Advances (Adv. Tax) | 9,400 | – |
Other Current Assets | 1,09,600 | 1,00,600 |
Total | 1,96,000 | 1,73,000 |
Additional Information: A machine costing 20,000 (depreciation provided thereon 6,000) was sold for 10,000. The depreciation charged during the year was 10,000. An interim Dividend paid during the year 9,000. Advance tax paid 9,400 during the year.
It has been assumed that new debentures have been issued at the end of the current accounting year.
The solution of Question No 52 Chapter 8 – UNIMAX Class 12 Part 2 – 2021: –
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31st DEC,2022
| Particulars | ₹ | ₹ |
I. Cash Flow from Operating Activities | 11,800 | |
A. Net Profit before tax | ||
B. Adjustments for Non- Cash and Non-Operating items: | ||
Deprecation on Fixed Assets | 10,000 | |
Loss on Sale of Machinery | 4,000 | |
Interest on Debentures | 3,300 | |
Dividend on Pref. Share | 4,200 | |
Patents amortized | 4,000 | 25,500 |
C. Operating Profit before Working Capital Changes | 37,300 | |
Dividend on pref. Share | ||
Increase in Other Current Assets | (9000) | |
Increase in Trade Payables | (2000) | (11,000) |
E. Net Cash Flow from Operating Activities before tax | 26,000 | |
F. Less: Tax paid | (9400) | |
G. Net Cash Inflow from Operating Activities after Tax | 16,900 | |
II. Cash Flow from investing Activities: | ||
Sale of Machinery | 10,000 | |
Purchase of Fixed Assets | (18,000) | |
Purchase of Non-current Investments | (10,000) | |
Net Cash used in investing Activities | (18000) | |
III. Cash Flow from Financing Activities | ||
Issues of share capital (25,000+2,000) | 27,000 | |
Issue of debentures | 12,000 | |
Interest paid on debentures | (3,300) | |
Interim dividend paid on equity shares | (9000) | |
Dividend on pref. share | (4200) | |
Dec. in bank overdraft | (13,400) | |
Final dividend paid | (10,000) | |
Redemption of preference shares | (3,400) | |
Net cash inflow from financing activities | 5700 | |
iv. net increase in cash and cash equivalents (I + ii + iii) | 4600 | |
v. opening cash and cash equivalents | 2400 | |
vi. closing cash and cash equivalents | 7000 |
Working notes:
NOTE 1: SHARE CAPITAL
| Particulars | 31.03.2022 | 31.03.2021 | |
| Equity Share Capital | 80,000 | 55,000 | |
| 12% Preference Share Capital | 31,600 | 35,000 | |
| 1,11,600 | 90,000 | ||
2. Advanced tax has not been added back because it has not yet been provided in P& L A/c.
Fixed Assets Account
| Particulars | ₹ | Particulars | ₹ |
| To balance b/d | 55,000 | By depreciation a/c. | 10,000 |
| To bank a/c (purchase) (b. f) | 18,000 | By bank a/c (sale) | 10,000 |
| By P&L a/c (loss) | 4,000 | ||
| By balance c/d | 49,000 | ||
| 73,000 | 73,000 |
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| 1. calculations of net profit before tax | ||
| Closing balance of P & L a/c | 11,800 | |
| Less: opening balance of P& L a/c | (8,000) | |
| Less: Transfer from reserve | (1,000) | |
| Add: interim dividend on equity shares | 9000 | |
| Net profit before tax | 11,800 |
End of Solution
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Question No 09 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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