Question
From the following information, prepare a Cash Flow Statement of IPCC (2) Ltd.: BALANCE SHEETS AS AT... Particulars EQUITY AND LIABILITIES (1) Shareholders' Funds (a)
From the following information, prepare a Cash Flow Statement of IPCC (2) Ltd.:
BALANCE SHEETS AS AT...
Particulars
EQUITY AND LIABILITIES (1) Shareholders' Funds
(a) Share Capital
(b) Reserves and Surplus
Non-Current Liabilities
(2) (3) Current Liabilities
[14% Debentures]
Short-term Borrowings (14% Bank Loan) Trade Payables
Other Current Liabilities Short-term Provisions
Total II. ASSETS
(1) Non-Current Assets Tangible Fixed Assets
183A THESIT TO STOW
Accumulated Depreciation Intangible Assets [Goodwill] 10% Non-Current Investments
Other Non-Current Assets
(2) Current Assets
10% Current Investments HONCH Cash & Cash Equivalents
Inventories
Trade Receivables
Total
Note
31.03.2014
31.03.2013
25,000
60,000
85,000
Cr.
00
20.000
30,000
50,000
L
200
000
000
1 2
3
10,50,000 5,72,000
2,60,000
23,57,000
16,50,000
(3,80,000) 21,000
1,60,000
1,000
60,000
1,69,000
3,76,000
10,00,000 2,32,000
1,50,000
50,000
40.000
60,000
1,40,000
16,72,000
13.20.000
(3,00,000)
10,000
60,000
2,000
20,000
54,000
4,06,000
23,57,000 16,72,000 NOTE 1: SHARE CAPITAL
Particulars
Equity Share Capital of t 10 each 5% Preference Share Capital of t 100 each
NOTE 2: RESERVES AND SURPLUS
Particulars
General Reserve
Profit and Loss A/c Securities Premium
Capital Reserve
31.03.2014
8,50,000
10,50,000
31.03.2013
4,00.000
31.03.2014
1,40,000
3,92,000 40,000
5,72,000
31.03.2014
31.03.2013
3,20,000
(1,13,000)
20,000
5,000
2,32,000
NOTE 3: OTHER CURRENT LIABILITIES
Particulars
31.03.2013
60,000
Bank Overdraft Unpaid Dividend
Unpaid Interest on Debentures.
NOTE 4: SHORT-TERM PROVISIONS
Particulars
50,000
20,000
10,000
80,000
60,000
31.03.2014
1,50,000 40,000
1,90,000
31.03.2014
1,000
-
1,000
31.03.2013
1,20,000
20,000
1.40,000
Proposed Dividend Provision for Tax
NOTE 5: OTHER NON-CURRENT ASSETS
Particulars
31.03.2013
Underwriting Commission Preliminary Expenses
Additional Information:
(a) During the year a machine having book value of 80,000 (depreciation thereon 60,000) was sold at a loss of 37.5%.
2,000 2,000
provided
(b) On 01.01.2014, Some Non-Current Investments costing 1,40,000 were purchased and Some Non-Current Investments were sold at a loss of 1/3rd on sale. At the end of the year Some Current investments costing 20,000 were sold at a profit of 25%. Profit/Loss on Investments was adjusted against the Capital Reserve. An Interim Dividend 15% was paid on equity shares on 31.12.2013. New Shares and Debentures were issued on 01.01.2014 and Bank Loan was repaid on the same date
(d) Tax provided during the year was 30,000. Preference Shares were redeemed
at the end of the year at a premium of 5%. (e) On 01.01.2014, the Business of Y Ltd. was purchased for 60,000 payable in fully paid equity shares of 10 each at 20% premium. The assets included Stock * 15,000. Debtors 10,000 and Machine 30,000. Creditors of 15,000 were also taken
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Public Sector Accounting
Authors: Rowan Jones, Maurice Pendlebury
6th Edition
0273720368, 9780273720362
