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Question No 08 Chapter 8 – UNIMAX Class 12 Part 2 – 2021
8. The following is the statement of profit and loss of ruby limited for the year ended march 31,2022:
| Particulars | Note no. | Amount |
| I. Revenue from operating (sales) | 10,00,000 | |
| ii. Expenses | ||
| Purchases | 5,00,000 | |
| Changes in inventories (opening inventory – closing inventory | ||
| (2,50,000-2,00,000) | 50,000 | |
| Other expenses | 3,00,000 | |
| Total expenses | 8,50,000 | |
| iii. Profit before tax (i-ii) | 1,50,000 |
Additional information:
(i)trade receivables decreased by 30,000 during the year.
(ii)prepaid expenses increase by 5,000 during the year.
(iii)trade payables decreased by 15,000 during the year.
(iV)outstanding expenses increased by 3,000 during the year.
(v)operating expenses include depreciation of 25,000.
Computer net cash provided by operating for the year ended march 31,2022 by the indirect method.
CASH FLOWS FROM OPERATING ACTIVITIES
FOR THE YEASR ENDED 31st MARCH ,2022
| Particulars | ₹ | ₹ |
|---|---|---|
| Net Profit before Tax | 1,50,000 | |
| Adjustment for non-cash and non -operating items: | ||
| Add: deprecation | 25,000 | |
| Operating profit before working capital changes | 175,000 | |
| Add: decrease in current assets : | ||
| Inventory | 50,000 | |
| Trade receivable | 30,000 | |
| Increase in current liabilities: | ||
| Outstanding expenses | 3,000 | 83,000 |
| 2,58,000 | ||
| Less: increase in current assets: | ||
| Prepaid expenses | 5,000 | |
| Decrease in current liabilities: | ||
| Trade payables | 15,000 | 20,000 |
| Net cash from operating activities | 2,38,000 |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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