Question
CASHFLOW STATEMENT QUESTIONS The following are the Balance Sheets of Superior Industries. LIABILITIES 2017 2016 ASSETS 2017 2016 Share Capital 7,87,500 6,75,000 Plant &Machinery 13,50,000
CASHFLOW STATEMENT QUESTIONS The following are the Balance Sheets of Superior Industries. LIABILITIES 2017 2016 ASSETS 2017 2016 Share Capital 7,87,500 6,75,000 Plant &Machinery 13,50,000 11,25,000 General Reserve 2,81,250 2,25,000 Accumulated dep (2,81,250) (2,25,000) Capital Reserve 11,250 - Net Book Value 10,68,750 9,00,000 Profit & Loss A/c 2,29,500 95,625 Noncurrent Investments 1,92,500 1,92,500 10% Debentures 2,47,500 3,60,000 Inventories 303,750 225,000 Trade Payables 2,81,250 1,80,000 Trade Receivables 348,750 298,125 O/S Liabilities 13,500 22,500 Prepaid Expenses 13,500 11,250 Provision for taxation 85,500 78,750 Cash Balance 10,000 10,000 19,37,250 16,36,875 19,37,250 16,36,875 Adjustments: 1. During the year, Plant & Machinery with a book value of 11,250 ( accumulated depreciation Rs 33,750) was sold for Rs 9,000. 2. During the year Investment costing 90,000 was sold at a gain of 11,250 which is transferred to Capital Reserve & also Investment costing 90,000 was purchased. 3. Tax of 61,875 Paid during the year. 4. Dividend paid Rs.33,750. 4. At the beginning of the year Debentures of 1,12,500 were redeemed at par. 5. Interest on Debentures paid during the year 24750.
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