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Illustration 25. Following are the summarised balance sheets of ESS GEE Ltd. as on December 31, 2012 and 2013 2012 2013 Assets 2012 2013

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Illustration 25. Following are the summarised balance sheets of ESS GEE Ltd. as on December 31, 2012 and 2013 2012 2013 Assets 2012 2013 Liabilities Share Capital 1,00,000 1,30,000 Land & Building 1,00,000 95,000 General Reserve 25,000 30,000 Machinery 75,000 84,500 Profit and Loss A/c 15,200 15,400 Stock 50,000 37,000 Bank Loan (Long-term) 35,000 Sundry Debtors 40,000 32,100 Sundry Creditors 75,000 67,500 Cash 200 300 Provision for Tax 15,000 17,500 Bank 4,000 Goodwill 7.500 2.65.200 2.60.400 2.65.200 2.60.400 Additional Information: (1) Dividend of 11,500 was paid. (ii) Assets of another company were purchased for a consideration of 30,000 payable in shares. The following assets were purchased: Stock 10,000; machinery 12,500 (iii) Machinery was further purchased for 4,000. (iv) Depreciation written off machinery 6,000. (v) Income tax provided during the year 16,500. (vi) Loss on sale of machine 100 was written off to General Reserve. You are required to prepare a cash flow statement for the year ended 31st December 2013. Solution:

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