Question 33 Chapter 8 -Unimax Publication Class 12 Part 2

Question 33 Chapter 8 – Unimax Publication Class 12 Part 2 – 2021

Table of Contents

The solution of Question 33 Chapter 8 – Unimax Publication Class 12 Part 2-2021 : –

Unimax Publication – Accountancy PSEB Class 12 – Volume I – Solution

Unimax Publication – Accountancy PSEB (Class 12) – Part – II – Solution

. 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.

The solution of Question 33 Chapter 8 – Unimax Publication Class 12 Part 2-2021 : –

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