The Balance Sheet of Steady Growth Ltd for the year ended 31st March, 2015 and 2016 are as follows:

Additional information:
(i) The company sold one fixed asset for ₹ 1,00,000, the cost of which was ₹ 2,00,000 and the depreciation of ₹ 80,000 was provided on it.
(ii) Depreciation on fixed assets provided ₹ 3,20,000.
(iii) Company sold some investments at a profit of ₹ 40,000, which was credited to Capital Reserve.
(iv) Debentures and Preference Shares were redeemed at 5% premium.
(v) Company decided to value stock at cost, whereas previously the practice was to value stock at cost less 10%. The stock according to hooks on 31.03.2015 was ₹ 2,16,000. the stock on 31.03.2016 was correctly valued at ₹ 3,00,000. Prepare Cash Flow Statement as per revised AS-3.

Transcribed Image Text:

Balance Sheet of Steady Growth Ltd. as at 31st March, 2015 and 2016 31.03.2015 I. EQUITY AND LIABILITIES (1) Shareholders' Funds: (a) Share Capital: Equity Share of 10 each fully paid 10% Preference Share of 10 each fully paid (b) Reserves and Surplus : (2) Share Application Money Pending Allotment: (3) Non-current Liabilities: (4) Current Liabilities: TOTAL Capital Reserve General Reserve Profit and Loss Account (a) Long-term Borrowings-9% Debentures Particulars (1) (a) Short-term Provisions: Proposed Dividend Provision for Tax (b) Other Current Liabilities (c) Unpaid Dividend Note No. (2) (3) 12,00,000 4,00,000 6,80,000 1,60,000 4,00,000 1,20,000 3,60,000 4,80,000 38,00,000 31.03.2016 (₹) (4) 16,00,000 2,80,000 40,000 8,00,000 2,60,000 2,80,000 1,44,000 3,40,000 5,20,000 16,000 42,80,000