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Balance Sheet For The Year Ending 31st March 2019 2020 Capital and Liabilities

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Prasad Gharat

The balance sheets for Mega Company for the years ending 31st March 2019 and 2020 are presented. In 2020: - Fixed assets worth Rs. 5,000 were sold for Rs. 4,000 after accumulated depreciation of Rs. 15,000 - Investments worth Rs. 40,000 were sold and investments of the same amount were purchased - Debentures were retired at a 10% premium You are required to prepare a cash flow statement for the year ending 31st March 2020.

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Balance Sheet For The Year Ending 31st March 2019 2020 Capital and Liabilities

Uploaded by

Prasad Gharat
65 views1 page
The balance sheets for Mega Company for the years ending 31st March 2019 and 2020 are presented. In 2020: - Fixed assets worth Rs. 5,000 were sold for Rs. 4,000 after accumulated depreciation of Rs. 15,000 - Investments worth Rs. 40,000 were sold and investments of the same amount were purchased - Debentures were retired at a 10% premium You are required to prepare a cash flow statement for the year ending 31st March 2020.

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CFS Mega Company

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The balance sheets for Mega Company for the years ending 31st March 2019 and 2020 are presented. In 2020: - Fixed assets worth Rs. 5,000 were sold for Rs. 4,000 after accumulated depreciation of Rs. 15,000 - Investments worth Rs. 40,000 were sold and investments of the same amount were purchased - Debentures were retired at a 10% premium You are required to prepare a cash flow statement for the year ending 31st March 2020.

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© All Rights Reserved
Download as DOCX, PDF, TXT or read online from Scribd
Download as docx, pdf, or txt
65 views1 page

Balance Sheet For The Year Ending 31st March 2019 2020 Capital and Liabilities

Uploaded by

Prasad Gharat
The balance sheets for Mega Company for the years ending 31st March 2019 and 2020 are presented. In 2020: - Fixed assets worth Rs. 5,000 were sold for Rs. 4,000 after accumulated depreciation of Rs. 15,000 - Investments worth Rs. 40,000 were sold and investments of the same amount were purchased - Debentures were retired at a 10% premium You are required to prepare a cash flow statement for the year ending 31st March 2020.

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1.

The following are the balance sheets of Mega Company for the years ending 31st March,
2019 and 31st March, 2020

Balance Sheet for the year ending 31st March


  ₹ ₹
2019 2020
Capital and Liabilities:    
Share Capital 300000 350000
General Reserve 100000 130000
(including profit on sale of investments Rs. 5,000)  
Profit and Loss Account 50000 100000
Debentures 150000 100000
Accrued expenses 5000 6000
Creditors 80000 125000
Provision for dividend 15000 17000
Provision for taxation 35000 38000
Total 735000 866000
Assets :    
Fixed Assets 500000 600000
Less: Accumulated depreciation 100000 125000
Net fixed assets 400000 475000
Long term investments (at cost) 90000 90000
Stock (at cost) 100000 135000
Debtors 112500 122500
Bills receivables 20000 32500
Prepaid expenses 5000 6000
Cash and Equivalents 7500 5000
Total 735000 866000
Additional Information:
i. During the year 2020, fixed asset with a net book value of Rs. 5,000 (accumulated
depreciation Rs. 15,000) was sold for Rs. 4,000.
ii. During the year 2020, investments costing Rs. 40,000 were sold, and also investments
costing Rs. 40,000 were purchased.
iii. Debentures were retired at a premium of 10 percent.
iv. Tax of Rs. 27,500 was paid for 2019.
v. The proposed dividend for 2019 was paid in 2020.
You are required to prepare a Cash flow statement (i.e. statement of changes in financial
position on working capital basis) for the year 31st March, 2020.

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