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need help prepare cash flow statement Question 43 On the basis of the following information prepare a Cash Flow Statement for the year ended 31st
need help prepare cash flow statement
Question 43 On the basis of the following information prepare a Cash Flow Statement for the year ended 31st March, 2021 (Using direct method): (i) Total sales for the year were 597 crores out of which cash sales amounted to 393 crores. (ii) Receipts from credit customers during the year, totalled 201 crores. (iii) Purchases for the year amounted to 330 crores out of which credit purchases were 80%. Balance in creditors as on 1.4.202031.3.2021126crores138crores (iv) Suppliers of other consumables and services were paid 28.5 crores in cash. (v) Employees of the enterprises were paid 30 crores in cash. (vi) Fully paid preference shares of the face value of 48 crores were redeemed. Equity shares of the face value of 30 crores were allotted as fully paid up at premium of 20%. (vii) Debentures of 30 crores at a premium of 10% were redeemed. Debenture holders were issued equity shares in lieu of their debentures. (viii) 39 crores were paid by way of income tax. (ix) A new machinery costing 15 was purchased. (x) Investment costing 27 cores were sold at a loss of 3 crores. (xi) Dividends totalling 22.5 crores was also paid. (xii) Debenture interest amounting 3 crore was paid. (xiii) On 31st March 2020, Balance with Bank and Cash on hand totalled 3 croresStep by Step Solution
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