The following are the summarised Balance Sheets of X Ltd. as at 31st March, 2022 and 2021 Share Capital ₹ 2,50,000
The following are the summarised Balance Sheets of X Ltd. as at 31st March, 2022 and 2021:
| Particulars | Note. No. | 31st March, 2023 | 31st March, 2022 |
| I. EQUITY AND LIABILITIES: | |||
|
(1) Shareholder’s Funds: (a) Share Capital (b) Reserve and Surplus |
2,50,000 52,000 |
2,00,000 50,000 |
|
|
(2) Non-Current Liabilities: Long-term Borrowings |
30,000 | 25,000 | |
|
(3) Current Liabilities (a) Short-term Borrowings (b) Trade Payables (c) Short-term Provisions (Provision for Tax) |
7,000 1,02,000 24,000 |
18,000 1,05,000 15,000 |
|
| Total | 4,65,000 | 4,13,000 | |
| II. ASSETS: | |||
|
(1) Non-Current Assets: (a) Property, Plant and Equipment and Intangible Assets (i) Property, Plant and Equipment |
1,93,000 | 2,03,000 | |
|
(2) Current Assets: (b) Inventories (c) Trade Receivables (d) Cash & Cash Equivalents |
1,10,000 1,56,000 6,000 |
90,000 1,18,000 2,000 |
|
| Total | 4,65,000 | 4,13,000 |
Notes to Accounts:-
| 31.3.2023 | 31.3.2022 | |
|
(1) Long-term Borrowings: 8% Debentures |
30,000 | 25,000 |
|
(2) Short-term Borrowings: Cash Credit |
7,000 | 18,000 |
|
(3) Property, Plant and Equipment Machinery Less: Accumulated Depreciation |
2,50,000 57,000 |
2,40,000 37,000 |
| 1,93,000 | 2,03,000 |
Additional Information:
| 31.3.2022 | 31.3.2021 | |
|
(i) Contingent Liability Proposed Dividend |
30,000 | 25,000 |
(ii) Provision for Tax made ₹ 30,000.
(iii) Additional debentures amounting to ₹ 5,000 were issued on 1st oct. 2021. Interest on debentures has been paid up-to date.
You are required to prepare a statement of Cash Flow.
[Ans. Cash used in operating activities ₹ 2,800; Cash used in investing activities ₹ 10,000; and Cash from financing activities ₹ 16,800; Income tax paid ₹ 21,000.]
Note: Repayment of Cash Credit will be treated as ‘Financing Activity’.
Anurag Pathak Answered question January 2, 2025
