Question
Prepare a Cash-Flow Statement from the information given below:
✓
Answer
Note:
|
Net Profit for the year
|
40,000
|
|
Add: Transfer to General Reserve
|
15,000
|
|
Net Profit before Tax
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55,000
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On 1st April, 2013, the following balances appeared in the books of Blue and Green Ltd.
The company met the requirements of Companies Act, 2013 regarding Debenture Redemption Reserve and Debenture Redemption investments and redeemed the debentures.
Ignoring interest on investments, pass necessary Journal entries for the above transactions in the books of company.
| 12% Debentures (Redeemable on 31st August, 2015) | ₹ 20,00,000 |
| Debenture Redemption Reserve | ₹ 2,00,000 |
Ignoring interest on investments, pass necessary Journal entries for the above transactions in the books of company.
Read the following hypothetical text and answer the given questions on the basis of the same.
In 2011, two young Indian entrepreneurs, Vaishali Bhatia and Vivek Bhatia decided to start an online auto portal. At that time, there were no major players in the market and they saw an opportunity to fill the gap. They used a user-friendly website and mobile app which made it easy for users to research and buy cars. It was converted into a company 'Car Easy Ltd.' in 2018.
From the following Balance Sheet of the company as on 31st March, 2022, calculate 'Cash Flows From Operating Activities'.
Notes to Accounts:
Additional Information:
i. 10% Debentures were issued on 31st March, 2021.
ii. Tax of ₹ 80,000 was paid during the year.
In 2011, two young Indian entrepreneurs, Vaishali Bhatia and Vivek Bhatia decided to start an online auto portal. At that time, there were no major players in the market and they saw an opportunity to fill the gap. They used a user-friendly website and mobile app which made it easy for users to research and buy cars. It was converted into a company 'Car Easy Ltd.' in 2018.
From the following Balance Sheet of the company as on 31st March, 2022, calculate 'Cash Flows From Operating Activities'.
| Balance Sheet of 'Car Easy Ltd' as at 31st March, 2022 | |||
| Particulars | Note No. | 31.3.2022 (₹) | 31.3.2021 (₹) |
| I Equity and Liabilities: | |||
| 1. Shareholders' Funds | |||
| (a) Share Capital | 9,00,000 | 3,00,000 | |
| (b) Reserves and Surplus | 1 | 75,000 | 3,60,000 |
| 2. Non-Current Liabilities | |||
| Long-term Borrowings | 2 | 2,40,000 | 1,80,000 |
| 3. Current Liabilities. | |||
| (a) Trade Payables | 18,000 | 60,000 | |
| (b) Short-term Provisions | 3 | 2,04,000 | 2,10,000 |
| Total | 14,37,000 | 11,10,000 | |
| II Assets: | |||
| 1. Non-Current Assets | |||
| Fixed Assets | 4 | 10,08,000 | 5,76,000 |
| 2. Current Assets | |||
| (a) Inventories | 3,54,000 | 3,87,000 | |
| (b) Cash and Cash Equivalents | 75,000 | 1,47,000 | |
| Total | 14,37,000 | 11,10,000 | |
| Note No. | Particulars | 31.3.2022 (₹) | 31.3.2021 (₹) |
| 1 | Reserve and Surplus | ||
| Surplus i.e. Balance in Statement of Profit and Loss | 75,000 | 3,60,000 | |
| 75,000 | 3,60,000 | ||
| 2 | Long-term Borrowings | ||
| 10% Debentures | 2,40,000 | 1,80,000 | |
| 2,40,000 | 1,80,000 | ||
| 3 | Short-term Provisions | ||
| Provision for Tax | 2,04,000 | 2,10,000 | |
| 2,04,000 | 2,10,000 | ||
| 4 | Fixed Assets | ||
| Machinery | 11,52,000 | 6,45,000 | |
| Accumulated Depreciation | (1,44,000) | (69,000) | |
| Total | 10,08,000 | 5,76,000 |
i. 10% Debentures were issued on 31st March, 2021.
ii. Tax of ₹ 80,000 was paid during the year.
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