Q.4. From the following particulars as at 31st March, prepare cash flow statement as per AS-3...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Q.4. From the following particulars as at 31st March, prepare cash flow statement as per AS-3 using indirect method: Equity and liabilities: Equity Share Capital 10% Pref. Share Capital General Reserve Assignment Surplus in Statement of Profit & Loss 15% Debentures Creditors Proposed Dividend Provision for Taxation Total Assets: Fixed Assets Less: Accumulated Depreciation Stock Debtors Cash Prepaid Expenses Total 2017 80,000 20,000 7,600 2,400 14,000 22,000 8,000 8,400 1,62,400 80,000 30,000 50,000 70,000 34,400 7,000 1,000 1,62,400 2018 55,000 25,000 4,000 2,000 12,000 24,000 10,000 6,000 1,38,000 82,000 22,000 60,000 60,000 15,000 2,400 600 1,38,000 Additional information: i. Provision for tax made Rs. 9,400. ii. Fixed assets costing Rs. 20,000 (accumulated depreciation till date of sale on then Rs. 6,000) were sold Rs. 10,000. iii. Interim dividend paid during the year Rs. 9,000. Proposed dividend of last year was declared and paid during the year. Ignore corporate dividend tax. iv. New Debentures were issued on 31st March, 2017. Q.4. From the following particulars as at 31st March, prepare cash flow statement as per AS-3 using indirect method: Equity and liabilities: Equity Share Capital 10% Pref. Share Capital General Reserve Assignment Surplus in Statement of Profit & Loss 15% Debentures Creditors Proposed Dividend Provision for Taxation Total Assets: Fixed Assets Less: Accumulated Depreciation Stock Debtors Cash Prepaid Expenses Total 2017 80,000 20,000 7,600 2,400 14,000 22,000 8,000 8,400 1,62,400 80,000 30,000 50,000 70,000 34,400 7,000 1,000 1,62,400 2018 55,000 25,000 4,000 2,000 12,000 24,000 10,000 6,000 1,38,000 82,000 22,000 60,000 60,000 15,000 2,400 600 1,38,000 Additional information: i. Provision for tax made Rs. 9,400. ii. Fixed assets costing Rs. 20,000 (accumulated depreciation till date of sale on then Rs. 6,000) were sold Rs. 10,000. iii. Interim dividend paid during the year Rs. 9,000. Proposed dividend of last year was declared and paid during the year. Ignore corporate dividend tax. iv. New Debentures were issued on 31st March, 2017.
Expert Answer:
Answer rating: 100% (QA)
Cash Flow Statement as per AS3 using indirect method For the year ended 31st March 2018 Particulars Amount Rs Amount Rs Cash Flow from Operating Activities Profit as per Balance Sheet 2000 2400 400 Ad... View the full answer
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
Students also viewed these accounting questions
-
please solve this question properly Q.4. From the following particulars as at 31st March, prepare cash flow statement as per AS-3 using indirect method: 2017 2018 Equity and liabilities: Equity Share...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
The financial statements of AG are given below: Income statement for the year ended 31 Match 2005 $000 Revenue........................................................................7 500 Cost of...
-
In the Young's double slit experiment, interference fringes are formed using Na-light of 589 nm and 589.5 nm. Obtain the region on the screen where the fringe pattern will disappear. You may assume...
-
Home Depot, Inc. is the worlds largest home improvement retailer and one of the ten largest retailers overall in the United States. The firm operates more than 1,400 full-service, warehouse-style...
-
Bell Hill Mfg. is considering a rights offer. The company has determined that the ex-rights price would be $74. The current price is $79 per share, and there are 27 million shares outstanding. The...
-
Locate sample affidavits used in a civil litigation for both California court and federal court. What do they have in common? Are there any striking differences?
-
First National Bank of Conway is considering installing two ATMs in its Southside branch. The new machines are expected to cost $37,000 apiece. Installation costs will amount to about $15,000 per...
-
4. (5 points) There can often be confusion about when to use the wavelengths of light and the various formulae for light versus the de Broglie wavelength for matter and the formula that connects the...
-
Random Inc. Cost data for the last 3 years Overhead Costs Units Produced January-17 $78,000 5,679 Use regression and show the equation used for Random to separate overhead into fixed and variable...
-
Acme Company makes three products: Product A, Product B, and Product C. Acme is implementing an activity-based costing system that will include four activity cost pools and related cost drivers:...
-
Suppose that you are given the following information. Total overhead is $ 6 0 , 0 0 0 . Of this, $ 4 0 , 0 0 0 is "machining," $ 1 0 , 0 0 0 is assembly." The machining cost pool is best driven by...
-
Indicate in which section of the balance sheet each of the accounts would be classified. Put parentheses around the account used if it represents a contra account. If the account does not appear on...
-
what ways do critical approaches interrogate the politics of knowledge production, and how does this interrogation affect the validation and dissemination of knowledge within academic and...
-
Your CFO has asked you to analyze the attached financial statements. In addition, you are provided the following information: Cost of debt 7% Cost of equity 20% Tax rate 25% FCF Terminal Growth Rate...
-
the unit vectors i and j are directed horizontally and vertically upwards respectively.] (4Ui+Uj)ms 9.6m 64m Figure 2 The point O is 9.6 m above horizontal ground. A small ball is projected with...
-
A mass at rest explodes into 4 equal parts. All four parts have the same speed after the explosion. Three of the four parts have the following RCS velocity directions [40], [1300], and [220]. What is...
-
In the simple quantity theory of money, what will lead to an increase in aggregate demand? In monetarism, what will lead to an increase in aggregate demand?
-
Sharrer Inc.'s only temporary difference at the beginning and end of 2019 is caused by a $2 million deferred gain for tax purposes for an installment sale of a plant asset, and the related receivable...
-
Daniel Barenboim sells and erects shell houses, that is, frame structures that are completely finished on the outside but are unfinished on the inside except for flooring, partition studding, and...
-
Andrea Shen purchased a computer for 8,000 on July 1, 2019. She intends to depreciate it over 4 years using the double-declining-balance method. Residual value is 1,000. Compute depreciation for 2020.
-
In tax year 2023-24, a landlord receives a premium of 36,000 when granting a 25-year lease to a tenant. How much of this premium is chargeable to income tax?
-
Ryan owns a dwelling house which he lets to a tenant. Rent is payable monthly in advance on the first day of each month. The rent was 600 per month until 1 January 2024, when it was increased to 650....
-
Edward has the following income in 2023-24: He makes a total of 800 of Gift Aid donations during 2023-24. Compute the amount of income tax payable for the year.
Study smarter with the SolutionInn App