Question 16 Marks
From the following Balance Sheet of Vehalna Steel Ltd. as at 31st March 2017 and 31st March 2016. Prepare Cash Flow Statement:
Additional Information
i. Machinery Costing 100000 on which Depreciation charged was 70000 was sold at a profit of 20% on book value. dep charged during the year amounted to 70000.
ii. Preference shares redeemed at par on 31st march 2017
iii. Debentures were redeeemed on Jan 1, 2017 and equity shares were issued on april 1,2016
iv. Income tax 45000 was provided
v. Non current investments costing 60000 were sold at a profit of 20%
vi. The company declares and paid interim dividend on equity shares 40 per share out of generl reserve. It did not propose final dividend on equity shares.
| Particulars | Note No. | 31st March 2017 | 31st March 2016 |
| I EQUITY AND LIABILITY | |||
| Share holders fund | |||
| Share Capital | 1 | 700000 | 500000 |
| Reserves and surplus | 2 | 250000 | 325000 |
| Non Current Liabilities | |||
| Long Term Borrowings | 3 | 200000 | 250000 |
| Current Liabilties | |||
| Short Term Provisions | 4 | 74000 | 49000 |
| 1224000 | 1124000 | ||
| Assets | |||
| Non Current asset | |||
| Fixed Asset | |||
| Machinery | 500000 | 300000 | |
| Non current investments | 200000 | 140000 | |
| Current asset | |||
| Invesntories | 150000 | 200000 | |
| Trade receivables | 204000 | 174000 | |
| Cash | 170000 | 310000 | |
| 1224000 | 1124000 |
| Share capital | ||
| Equity Share capital | 600000 | 300000 |
| 12% preferance share capital | 100000 | 200000 |
| 700000 | 500000 | |
| Reserve and surplus | ||
| General Reserve | 135000 | 375000 |
| Surplus | 115000 | -50000 |
| Long Term Borrowings | ||
| 9% Debenturs | 200000 | 250000 |
| Short Term Provisions | ||
| Proposed Dividend | 24000 | 24000 |
| Provision for Tax | 50000 | 25000 |
| 74000 | 49000 |
i. Machinery Costing 100000 on which Depreciation charged was 70000 was sold at a profit of 20% on book value. dep charged during the year amounted to 70000.
ii. Preference shares redeemed at par on 31st march 2017
iii. Debentures were redeeemed on Jan 1, 2017 and equity shares were issued on april 1,2016
iv. Income tax 45000 was provided
v. Non current investments costing 60000 were sold at a profit of 20%
vi. The company declares and paid interim dividend on equity shares 40 per share out of generl reserve. It did not propose final dividend on equity shares.