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Question No 33 Chapter 8 – UNIMAX Class 12 Part 2 – 2021
XYZ Ltd. had the following balance:
Non-current investment on 31st march 2021= 3,40,000
Noncurrent investment on 31st march 2022 = 2,80,000
During the year the company had sold 40% of its original investment at a profit of 84, 000.
Calculate sources and uses of cash.
| Sources | ₹ |
| 40% of 3,40,000= | 1,36,000 |
| Add profit = | 84,000 |
| 2,20,000 |
Uses: non-current investment A/c should be prepared to find out the uses of cash.
Non-current investments A/C
| Date | Particulars | Amount | Date | Particulars | Amount |
|---|---|---|---|---|---|
| 1-4-2021 | To balance b/d | 3,40,000 | During | By bank A/c | 2,20,000 |
| During | 2021-22 | ||||
| 2021-22 | To profit on sale | 31-3-2022 | By balance c/d (given) | 2,80,000 | |
| Of non-current investment | 84,000 | ||||
| To bank A/c | |||||
| (B. fig., purchase) | 76,000 | ||||
| 5,00,000 | 5,00,000 |
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.
This guide covers "Question No 33 Chapter 8 – UNIMAX Class 12 Part 2 – 2021", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Unimax Accountancy Class 12 Part 2 - 2023.
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