Answered step by step
Verified Expert Solution
Question
1 Approved Answer
31.03.2018 Illustration 16 The Balance Sheets of M.H.K. Ltd as at 31st March, 2017 and 2018 were as follows: Balance Sheets of M.H.K. Ltd. as
31.03.2018 Illustration 16 The Balance Sheets of M.H.K. Ltd as at 31st March, 2017 and 2018 were as follows: Balance Sheets of M.H.K. Ltd. as at 31st March, 2017 and 2018. Note 31.03.2017 Particulars No (1) 2) 3) 1. EQUITY AND LIABILITIES (1) Shareholders' Funds: (a) Share Capital 10,00,000 (b) Reserves and Surplus: Securities Premium 8,00,000 Accumulated Profits 4,80,000 (2) Share Application Money Pending Allotment: (3) Non-current Liabilities: (a) Long-term Borrowings -6% Loan 8,00,000 14 Current Liabilities: TOTAL 30,80,000 11,00,000 9.00,000 5,90,000 4) 12,00,000 37,90,000 30 60,000 8,40,000 II ASSETS (1) Non-current Assets : (a) Fixed Assets () Tangible Assets (2) 21,40,000 Less: Accumulated Depreciation 5,80,000 15,60,000 22.20.000 (2) Current Assets (Net) 15,20,000 15,70,000 TOTAL 30,80,000 37.90,000 Notes: 1. The net cash generated from operating activities for the year is ? 7.46,000 before deducting interest paid on the loan. During the year the company sold fixed assets which had cost 4,80,000 for 2,80,000 3. The net current assets figures include cash at bank: 31 March 2017: 14,000: 31st March 2018: 18,000. All other movements in net current assets have already been allowed for in computing the net cash inflow from operating activities given in Note 1 above. Dividends paid, when computed, should be included in financing activities, 4. The loan was taken on 1st April, 2017 all interest for the year ended on 31st March, 2018 was paid in the year. 5. The profit for the year ended 31st March, 2018 before allowing for dividends paid was ? 2,60,000. Ignore taxation Required: Prepare the company's cash flow statement for the year ended 31st March 2018 beginning with the net cash inflow from operating activities given in Note 1 above. 2. 6
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started