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CBSE CLASS XII
Q. 97. The balance Sheet of A.K. & Co. Ltd. as on 31st March, 2007 and 31st March, 2008 are as follows:
| Liabilities | 31st March 2007 Rs. | 31st March 2008 Rs. | Assets | 31st March 2007 Rs. | 31st March 2008 Rs. |
| Share Capital | 1,60,000 | 1,80,000 | Fixed Assets | 80,000 | 1,12,000 |
| Profit & Loss A/c | 60,000 | 96,000 | Inventories | 40,000 | 28,000 |
| Creditors | 40,000 | 60,000 | Debtors | 1,20,000 | 1,80,000 |
| Liabilities for Expenses | 12,000 | 20,000 | Cash and Bank Balance | 20,000 | 28,000 |
| Advance Income | 8,000 | 4,000 | Prepaid expenses | 12,000 | 8000 |
| Deferred Expenses | 8,000 | 4,000 | |||
| 2,80,000 | 3,60,000 | 2,80,000 | 3,60,000 |
Following additional information is given: An old machine was sold for Rs.20,000 (written down value Rs.10,000); Dividend paid during the year Rs.16,000 and depreciation charged to the Profit & Loss A/c for the year amounted to Rs.10,000. Prepare the Cash Flow Statement.
Q. 98. The Balance Sheet of XYZ Ltd. as on 31st March, 2007 and 31st March, 2008 were as under:
| Liabilities | 31st march 2007 Rs. | 31st March 2008 Rs. | Assets | 31st March 2007 Rs. | 31st March 2008 Rs. |
| Share Capital | 5,00,000 | 6,00,000 | Goodwill | 1,00,000 | 75,000 |
| Securities Premium | 50,000 | 50,000 | Investment | 1,50,000 | 2,00,000 |
| Profit & Loss A/c | - | 25,000 | Fixed Assets | 5,50,000 | 5,50,000 |
| 8% Debentures | 2,00,000 | 1,10,000 | Debtors | 60,000 | 90,000 |
| Bank Overdraft | 80,000 | 1,00,000 | Stock | 60,000 | 80,000 |
| Creditors | 80,000 | 75,000 | Bank | 12,000 | 5,000 |
| Proposed dividend | 10,000 | 15,000 | Prepaid Expenses | 8,000 | |
| Provision for tax | 20,000 | 25,000 | |||
| 9,40,000 | 10,00,000 | 9,40,000 | 10,00,000 |
Additional Information:
(a) Net Profit for the year 2007-08 before tax and dividend amounted to Rs.63,000.
(b) Provision for tax made during the year 2007-08 was Rs.23,000.
(c) Depreciation provided on fixed assets for the year 2007-08 Rs.80,000.
(d) Debentures amounting to Rs.90,000 were redeemed on 1st July, 2007. Interest on debentures was paid regularly through cheque.
You are required to prepare Cash Flow Statement as per Accounting Standard-3 (Revised).
Paper By Mr. Rahul Kadd
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