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Question No 58 Chapter 8 – UNIMAX Class 12 Part 2 – 2021
58 From the following information, prepare a Cash Flow Statement:
BALANCE SHEETS AS AT…….
| Particulars | 31.3.2022 | 31.3.2021 |
|---|---|---|
| I. Equity and liabilities | ||
| (1) Shareholders’ funds | 4,10,000 | 3,00,000 |
| Reserve & surplus | 1,00,000 | 60,000 |
| (2) non-current liabilities | - | - |
| 10% loan | - | 75,000 |
| (3) Current liabilities | ||
| (a) Bank overdraft | 35,000 | 37,000 |
| (b) Trade payable | 1,50,000 | 1,00,000 |
| (c) Short term provision | ||
| (Provision for tax) | 15,000 | 8,000 |
| 7,10,000 | 5,80,000 | |
| II. Assets | ||
| (1) Non-current assets | 5,00,000 | 4,50,000 |
| Less: accumulated Dep. | 60,000 | 50,000 |
| 4,40,000 | 4,00,000 | |
| (2) Current assets | ||
| (a) Current investments (short term) | 40,000 | 30,000 |
| (b) Inventories | 1,10,000 | 60,000 |
| (c) Trade receivable | 1,07,000 | 85,000 |
| (d) Cash and cash equivalents | 13,000 | 5,000 |
| 7,10,000 | 5,80,000 |
Additional Information: (1) Contingent liability 31.3.22 31.3.21
Proposed dividend 35000 25,000
(2) Loan was repaid on 31st April 2020
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31st MARCH . 2022
| Particulars | ₹ | ₹ |
|---|---|---|
| I. cash flow from operating activities | ||
| Net profit before tax (note 1) | 80,000 | |
| Adjustments for non-cash and non-operating items: | ||
| Add: depreciation on plant & machinery | 10,000 | |
| Operating profit before working capital changes | 90,000 | |
| Add: trade payable | 50,000 | |
| Less: inventory | (50,000) | |
| Trade receivable | 22,000 | |
| Payment of tax | (8,000) | |
| Net cash flow from operating activities | 60,000 | |
| B. cash flow from investing activities | ||
| Purchase of plant & machinery | (50,000) | |
| Net cash used in investing activities | (50,000) | |
| C. cash flow from financing activities | ||
| Issue of share capital | 1,10,000 | |
| Repayment of loan | (75,000) | |
| Repayment of short-term borrowing | (2,000) | |
| Payment of proposed dividend (previous year) | (25,000) | |
| Net cash used in financing activities | 8,000 | |
| Net increase in cash and cash equivalents | 18,000 | |
| Add cash and cash equivalents in the beg of the period | 35,000 | |
| Cash and cash equivalents attend of year | 53,000 |
Working Notes:
| Calculations of net profit before tax | ₹ |
| Reserve & surplus 31 march 2022 | 1,00,000 |
| Lens reserve & surplus 31 march 2021 | 60,000 |
| 40,000 | |
| Add proposed dividend for previous year | 25,000 |
| Provisions for tax made during the current year | 15,000 |
| Net profit before tax | 80,000 |
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 58 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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