From the following details relating to the accounts of Omega Ltd. prepare Cash Flow Statement for...

 

Transcribed Image Text:

From the following details relating to the accounts of Omega Ltd. prepare Cash Flow Statement for the year ended 31st March, 2021: Share Capital General Reserve Profit and Loss Account Debentures Provision for taxation Trade payables Plant and Machinery Land and Building Investments Trade receivables Inventories Cash in hand and at Bank 31.03.2021 (*) 14,00,000 5,60,000 1,40,000 2,80,000 1,40,000 9,80,000 9,80,000 8,40,000 1,40,000 7,00,000 5,60,000 2,80,000 31.03.2020 (*) 11,20,000 3,50,000 84,000 98,000 11,48,000 7,00,000 5,60,000 9,80,000 2,80,000 2,80,000 (i) Depreciation @ 20% was charged on the opening value of Plant and Machinery. (ii) At the year end, one old machine costing 70,000 (WDV 28,000) was sold for 49,000. Purchase of machinery was also made at the year end. (iii) 70,000 was paid towards Income tax during the year. (iv) Land & Building is not subject to any depreciation. Expenses on renovation of building amount * 2,80,000 were incurred during the year. Prepare Cash Flow Statement. From the following details relating to the accounts of Omega Ltd. prepare Cash Flow Statement for the year ended 31st March, 2021: Share Capital General Reserve Profit and Loss Account Debentures Provision for taxation Trade payables Plant and Machinery Land and Building Investments Trade receivables Inventories Cash in hand and at Bank 31.03.2021 (*) 14,00,000 5,60,000 1,40,000 2,80,000 1,40,000 9,80,000 9,80,000 8,40,000 1,40,000 7,00,000 5,60,000 2,80,000 31.03.2020 (*) 11,20,000 3,50,000 84,000 98,000 11,48,000 7,00,000 5,60,000 9,80,000 2,80,000 2,80,000 (i) Depreciation @ 20% was charged on the opening value of Plant and Machinery. (ii) At the year end, one old machine costing 70,000 (WDV 28,000) was sold for 49,000. Purchase of machinery was also made at the year end. (iii) 70,000 was paid towards Income tax during the year. (iv) Land & Building is not subject to any depreciation. Expenses on renovation of building amount * 2,80,000 were incurred during the year. Prepare Cash Flow Statement.

Answer rating: 100% (QA)

Cash Flow Statement for the Year Ended March 31 2021 Operating Activities Net Profit before Taxation ... View the full answer