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L Ltd. had purchased machinery on deferred payment basis. During the year ended 31-3-2015 the company paid an installment of Rs.4,00,000 which included interest of Rs.4,000. Under which activity or activities payment of installment will be classified while preparing Cash flow  Statement.

[2.02] Cash Flow Statement
Chapter: [2.02] Cash Flow Statement
Concept: Concept of Cash Flow Statement
Appears in 3 question papers

'An enterprise may hold securities and loans for dealing or trading purposes in which case they are similar to inventory acquired specifically for resale.' Is the statement true? Cash flows from such activities will be classified under which type of activity while preparing 'Cash flow statement'.

[2.02] Cash Flow Statement
Chapter: [2.02] Cash Flow Statement
Concept: Concept of Cash Flow Statement
Appears in 9 question papers

Following is the Balance Sheet of SN Ltd as at 31-3-2015:

                                                     S.N Ltd Balance Sheet as at 31-3-2015

Particulars Note No. 31-03-2015 (Rs.) 31-03-2014 (Rs.)

I. Equity and Liabilities

       1. Shareholder’s Funds

               a. Share Capital

               b. Reserve and Surplus

       2. Non - Current Liabilities

                a) Long – term borrowings

       3. Current Liabilities

                a) Short – term borrowings

                b) Short – term provisions

 

 

 

1

 

2

 

3

4

 

 

2,50,000

1,00,000

 

2,25,000

 

75,000

35,000 

 

 

2,00,000

(25,000)

 

2,50,000

 

25,000

45,000 

Total   6,85,000   4,95,000

 II. Assets

       1. Non – Current Assets

                a) Fixed Assets

                      Tangible assets

                      Intangible

                 b) Non – Current Investments

         2. Current Assets

                 a) Current Investments

                  b) Inventories

                  c) Cash and Cash Equivalents

 

 

 

5

6

 

 

 

7

 

 

 

 

5,01,500

10,000

50,000

 

25,000

53,500

45,000 

 

 

 

3,60,000

15,000

37,500

 

30,000

22,500

30,000 

 Total    6,85,000 4,95,000 

 

Note No. Particulars 31-3-2015 (Rs.) 31-3-2014 (Rs.)

1.

 

Reserve and Surplus

(Surplus i.e. Balance in Statement of Profit and Loss)

 

1,00,000

 

(25,000)

    1,00,000 (25,000)

2.

 

Long term borrowings :

12 % Debentures

 

2,25,000

 

2,50,000

    2,25,000 2,50,000

3.

 

Short – term borrowings :

Bank Overdraft

 

75,000

 

25,000

    75,000 25,000

4.

 

Short – term provisions

Provisions for tax

 

35,000

 

45,000

    35,000 45,000

5.

 

 

Tangible Assets

Machinery

Accumulated Depreciation

 

6,01,500

(1,00,000)

 

4,10,500

(50,500)

    5,01,500 3,60,000

6.

 

Intangible Assets

Goodwill

 

10,000

 

15,000

    10,000 15,000

7.

 

Inventories

Stock in trade

 

53,500

 

22,500

    53,500 22,500

Additional Information

(i) 12% Debentures were redeemed on 31-3-2015

(ii) Tax Rs.35,000 was paid during the year

Prepare Cash flow Statement

[2.02] Cash Flow Statement
Chapter: [2.02] Cash Flow Statement
Concept: Concept of Cash Flow Statement
Appears in 3 question papers

Give the meaning of ‘Cash Equivalents’ for the purpose of preparing Cash Flow Statement.

[2.02] Cash Flow Statement
Chapter: [2.02] Cash Flow Statement
Concept: Concept of Cash Flow Statement
Appears in 7 question papers

Following is the Balance Sheet of K K Ltd as at 31-3-2015:

                                                          K.K. Ltd Balance Sheet as at 31-3-2015

Particulars Note No. 31-3-2015 (Rs.) 31-3-2014 (Rs.)

I. Equity and Liabilities

        1. Shareholder’s Funds

              a. Share Capital

              b. Reserve and Surplus

         2. Non - Current Liabilities

              a) Long – term borrowings

         3. Current Liabilities

              a) Short – term borrowings

              b)Short – term provisions

 

 

 

1

 

2

 

3

4

 

 

10,00,000

4,00,000

 

9,00,000

 

3,00,000

1,40,000

 

 

8,00,000

(1,00,000)

 

10,00,000

 

1,00,000

1,80,000

Total   27,40,000 19,80,000

II. Assets

     1. Non – Current Assets

               a) Fixed Assets

                     Tangible assets

                     Intangible assets

               b) Non – Current Investments

      2. Current Assets

                a) Current Investments

                b) Inventories

                c) Cash and Cash

 

 

 

5

6

 

 

 

7

 

 

 

 

20,06,000

40,000

2,00,000

 

1,00,000

2,14,000

1,80,000

 

 

 

14,40,000

60,000

1,50,000

 

1,20,000

90,000

1,20,000

Total   27,40,000 19,80,000

 

Note No Particulars 31-3-2015(Rs.) 31-3-2014(Rs.)

1.

 

Reserve and Surplus

(Surplus i.e. Balance in Statement of Profit and Loss)

 

4,00,000

 

(1,00,000)

    4,00,000 (1,00,000)

2.

 

Long term borrowings :

12 % Debentures

 

9,00,000

 

10,00,000

    9,00,000 10,00,000

3.

 

Short – term borrowings :

Bank Overdraft

 

3,00,000

 

1,00,000

    3,00,000 1,00,000

4.

 

Short – term provisions

Provisions for tax

 

1,40,000

 

1,80,000

    1,40,000 1,80,000

5.

 

 

Tangible Assets

Machinery

Accumulated Depreciation

 

24,06,000

(4,00,000)

 

16,42,000

(2,02,000)

    20,06,000 14,40,000

6.

 

Intangible Assets

Goodwill

 

40,000

 

60,000

    40,000 60,000

7.

 

Inventories

Stock in trade

 

2,14,000

 

90,000

    2,14,000 90,000

Additional Information

(i) 12% Debentures were redeemed on 31-3-2015

(ii) Tax 1,40,000 was paid during the year

Prepare Cash flow Statement.

[2.02] Cash Flow Statement
Chapter: [2.02] Cash Flow Statement
Concept: Concept of Cash Flow Statement
Appears in 3 question papers

Give the meaning of 'Cash Flow statement'.

[2.02] Cash Flow Statement
Chapter: [2.02] Cash Flow Statement
Concept: Concept of Cash Flow Statement
Appears in 3 question papers

Following was the Balance Sheet of M.M Ltd at on 31.3.2015.

                                                        M.M. Ltd Balance Sheet as at 31-3-2015

Particulars Note No. 31-3-2015 (Rs.) 31-3-2014 (Rs.)

I. Equity and Liabilities

        1. Shareholder’s Funds

              a. Share Capital

              b. Reserve and Surplus

         2. Non - Current Liabilities

              a) Long – term borrowings

         3. Current Liabilities

              a) Short – term borrowings

              b) Short – term provisions

 

 

 

1

 

2

 

3

4

 

 

5,00,000

2,00,000

 

4,50,000

 

1,50,000

70,000

 

 

4,00,000

(50,000)

 

5,00,000

 

50,000

90,000

Total   13,70,000 9,90,000

II. Assets

     1. Non – Current Assets

               a) Fixed Assets

                     Tangible assets

                     Intangible assets

               b) Non – Current Investments

      2. Current Assets

                a) Current Investments

                b) Inventories

                c) Cash and Cash Equivalents

 

 

 

5

6

 

 

 

7

 

 

 

 

10,03,000

20,000

1,00,000

 

50,000

1,07,000

90,000

 

 

 

7,20,000

30,000

75,000

 

60,000

45,000

60,000

Total   13,70,000 9,90,000

 

Note No Particulars 31-3-2015(Rs.) 31-3-2014(Rs.)

1.

 

Reserve and Surplus

(Surplus i.e. Balance in Statement of Profit and Loss)

 

2,00,000

 

(50,000)

    2,00,000 (50,000)

2.

 

Long term borrowings :

12 % Debentures

 

4,50,000

 

5,00,000

    4,50,000 5,00,000

3.

 

Short – term borrowings :

Bank Overdraft

 

1,50,000

 

50,000

    1,50,000 50,000

4.

 

Short – term provisions

Provisions for tax

 

70,000

 

90,000

    70,000 90,000

5.

 

 

Tangible Assets

Machinery

Accumulated Depreciation

 

12,03,000

(2,00,000)

 

8,21,000

(1,01,000)

    10,03,000 7,20,000

6.

 

Intangible Assets

Goodwill

 

20,000

 

30,000

    20,000 30,000

7.

 

Inventories

Stock in trade

 

1,07,000

 

45,000

    1,07,000 45,000

Additional Information

(i) 12% Debentures were redeemed on 31-3-2015

(ii) Tax Rs. 70,000 was paid during the year

Prepare Cash flow Statement.

[2.02] Cash Flow Statement
Chapter: [2.02] Cash Flow Statement
Concept: Concept of Cash Flow Statement
Appears in 3 question papers

Naveen, Seerat and Hina were partners in a firm manufacturing blanket. They were sharing profits in the ratio of 5:3:2. Their capitals on 1st April, 2012 were Rs.2,00,000; Rs.3,00,000 and Rs.6,00,000 respectively. After the floods in Uttaranchal, all partners decided to help the flood victims personally. For this Naveen withdrew Rs.10,000 from the firm on 1st September; 2012. Seerat, instead of withdrawing cash from the firm took blankets amounting to Rs.12,000 from the firm and distributed to the flood victims. On the other hand, Hina withdrew Rs.2,00,000 from her capital on 1st January, 2013 and set up a centre to provide medical facilities in the flood affected area.

The partnership deed provides for charging interest on drawings @ 6% p.a. After the Final Accounts were prepared, it was discovered that interest on drawings had not been charged. Give the necessary adjusting journal entry and show the working notes clearly. Also state any two values that the partners wanted to communicate to the society.

[1.01] Accounting for Partnership Firms
Chapter: [1.01] Accounting for Partnership Firms
Concept: Meaning and Definitions of Partnership and Partnership Deed
Appears in 1 question paper

State the objective of preparing ‘Cash Flow statement’.

[2.02] Cash Flow Statement
Chapter: [2.02] Cash Flow Statement
Concept: Concept of Cash Flow Statement
Appears in 3 question papers

Prepare a Cash Flow Statement from the information given in the balance sheet of live Ltd. as at 31-3-2013and 31-3-2012:

Balance Sheet of Tiger Super Steel Ltd
Particulars Note No. 31-3-2015 (Rs.) 31-3-2014 (Rs.)

I. Equity and Liabilities

        1. Shareholder’s Funds

              a. Equity Share Capital

              b. Reserve and Surplus

         2. Non - Current Liabilities

              a) Long term borrowings

         3. Current Liabilities

              a) Trade Payables

1

 

 

2,10,000

1,32,000

 

1,50,000

 

75,000

 

 

1,80,000

24,000

 

1,50,000

 

27,000

Total   5,67,000 3,81,000

II. Assets

     1. Non – Current Assets

               a) Fixed Assets

                     Tangible assets

               b) Non – Current Investments

      2. Current Assets

                a) Current Investments (marketable)

                b) Inventories

                c) Trade Receivable

                c) Cash and Cash equivalents

 

 

 

 

2,94,000

48,000

 

54,000

1,07,000

40,000

24,000

 

 

 

2,52,000

18,000

 

60,000

24,000

17,500

9,500

Total   5,67,000 3,81,000

 

Notes to Account:

Note -1

Particulars 2013 (Rs.) 2012 (Rs.)

Reserve and Surplus

Surplus (balance in statement of profit and loss)

 

1,32,000

 

24,000

[2.02] Cash Flow Statement
Chapter: [2.02] Cash Flow Statement
Concept: Concept of Cash Flow Statement
Appears in 3 question papers

Does movement between items that constitute cash or cash equivalents result into cash flow? Give reason in support of your answer.

[2.02] Cash Flow Statement
Chapter: [2.02] Cash Flow Statement
Concept: Concept of Cash Flow Statement
Appears in 1 question paper

Why is separate disclosure of cash flows from investing activities important? State.

[2.02] Cash Flow Statement
Chapter: [2.02] Cash Flow Statement
Concept: Concept of Cash Flow Statement
Appears in 3 question papers

What is meant by 'Financial Statements' of a company?

[2.01] Analysis of Financial Statements
Chapter: [2.01] Analysis of Financial Statements
Concept: Concept of Financial Statements
Appears in 1 question paper

Complete the following journal entries left blank in the books of VK Ltd.:

VK Ltd.
Journal
Date Particulars L.F.

Dr.

Rs

Cr.

Rs

2018
Feb 1

___________________             Dr.

        ___________________

(Purchased own 500, 9% debentures of Rs 100 each at Rs 97 each for immediate cancellation)

 

  ________

 

 

  ________

 

Feb 1

___________________             Dr.

       ___________________

       ___________________

(Cancelled own debentures)

 

  ________

 

 

 

 ________

 ________

______

___________________             Dr.

      ___________________

(______________________)

 

  ________

 

 

  ________

 

[2.01] Analysis of Financial Statements
Chapter: [2.01] Analysis of Financial Statements
Concept: Concept of Financial Statements
Appears in 9 question papers

State the primary objective of preparing a Cash Flow Statement.

[2.02] Cash Flow Statement
Chapter: [2.02] Cash Flow Statement
Concept: Concept of Cash Flow Statement
Appears in 9 question papers

'Interest received and paid' is considered as which type of activity by a finance company while preparing a Cash Flow Statement?

[2.02] Cash Flow Statement
Chapter: [2.02] Cash Flow Statement
Concept: Concept of Cash Flow Statement
Appears in 9 question papers

From the following Balance Sheet of JY Ltd. as at 31st March 2017, prepare a Cash Flow Statement :

Balance Sheet of JY Ltd.
as at 31.3.2017
Particular Note No.

31-3-2017

Rs

31-3-2016

Rs

I. Equity and Liabilities

  1. Shareholders' Funds:

     (a) Share capital

     (b) Reserves and surplus

  2. Non-current Liabilities:

    Long term-borrowing

  3. Current Liabilities:

    (a) Short-term borrowings

    (b) Short-term provisions

 

 

 

1

 

2

 

3

4

 

 

5,00,000

1,00,000

 

2,50,000

 

1,50,000

2,00,000

 

 

5,00,000

(25,000)

 

1,50,000

 

1,00,000

1,25,000

Total   12,00,000 8,50,000

II. Assets

   1. Non- Current Assets:

     (a) Fixed Assets:

         (i) Tangible

   2. Current Assets:

    (a) Trade Receivable

    (b) Cash and Cash Equivalents

    (c) Short-term Loans and Advances

 

 

 

5

 

 

 

 

 

 

 

6,00,000

 

2,75,000

1,25,000

2,00,000

 

 

 

4,50,000

 

2,25,000

75,000

1,00,000

Total   12,00,000 8,50,000

 

Notes to Accounts

Note No Particulars

31-3-2017

Rs

31-3-2016

Rs

1

 

 

2

 

 

3

 

 

 

4

 

 

 

5

 

 

Reserve and Surplus

(Surplus i.e. Balance in Statement of Profit and Loss)

 

 

1,00,000

 

(25,000)

1,00,000 (25,000)

Long-term borrowings :

10 % Debentures

 

 

2,50,000

 

1,50,000

2,50,000 1,50,000

Short-term borrowings :

Bank Overdraft

 

 

1,50,000

 

1,00,000

1,50,000 1,00,000

Short-term provisions:

(i) Proposed Dividend

(ii) Provision for Tax

 

 

75,000

1,25,000

 

50,000

75,000

2,00,000 1,25,000

Tangible Assets:

Machinery

Accumulated Depreciation

 

 

7,37,500

(1,37,500)

 

5,25,000

(75,000)

6,00,000 4,50,000

Additional Information:

Rs 1,00,000, 10% Debentures were issued on 31-3-2017.

[2.02] Cash Flow Statement
Chapter: [2.02] Cash Flow Statement
Concept: Concept of Cash Flow Statement
Appears in 9 question papers

State whether the following will increase, decrease or have no effect on cash flow from operating activities while preparing 'Cash Flow Statement':

1) A decrease in outstanding employees benefits expenses by Rs 3,000

2) Increase in prepaid insurance by Rs 2,000

[2.02] Cash Flow Statement
Chapter: [2.02] Cash Flow Statement
Concept: Concept of Cash Flow Statement
Appears in 1 question paper

State the objectives of 'Analysis of Financial Statements'.

[2.01] Analysis of Financial Statements
Chapter: [2.01] Analysis of Financial Statements
Concept: Concept of Financial Statements
Appears in 4 question papers

Will 'acquisition of machinery by an issue of equity shares' be considered while preparing 'Cash Flow Statement'? Give reason in support of your answer.

[2.02] Cash Flow Statement
Chapter: [2.02] Cash Flow Statement
Concept: Concept of Cash Flow Statement
Appears in 1 question paper
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