ashu1976
Oct 27, 2009, 09:35 AM
Balance sheet of a company as on 31-3-2008 and 31-3-2007 in Rupees(Rs) is
31-3-08 31-3-07
Sources of funds
Share capital 5000 4000
General reserve 1000 800
P&L A/c 400 200
Share premium 1000 500
Secured loans 4000 3000
Unsecured loans 3000 1000
Application of funds
Fixed assets-gross block 12000 10000
Less:accumulated depn 3000 2000
Net block 9000 8000
Capital work in progress 3000 -
Investments 2000 500
Current assets:
Inventories-raw material 700 600
Work in progress 250 300
Finished goods 150 200
Sundry debtors 1200 1300
Prepayments 200 150
Cash and bank 500 400
Loans & advances:
Advance tax 1400 900
Loans to employees(long term) 1000 500
Current liabilities:
Sundry creditors 800 950
Outstanding expenses 400 300
Provisions:
Provisions for retirement benefits 350 300
Tax provisions 1450 1000
Proposed dividend 1000 800
Additional information:
1) actual tax liability for 2006-07 was Rs 950
2) a piece of machinery costing Rs 500, accumulated depreciation Rs 200 was sold for Rs 250. The loss was charged to profit and loss account
3) a portion of secured loan as on 31-3-07 amounting to Rs 400 was converted into equity at premium Rs 200. There was also fresh issue of equity at 100% premium.
4) out of secured loans as on 31-3-08 Rs 500 were short term loans
5)out of unsecured loans short term loans were to the extent of Rs 400 and Rs 500 respectively as on 31-3-07 and 31-3-08.
6) out of investment Rs 200 were current investment as on 31-3-07 and Rs 500 were current investments as on 31-3-08
7) there was revaluation of fixed asset during 2007-08 and the revaluation profit Rs 500 was charged to capital reserve. Then you are required to prepare:
(a) statement showing changes in working capital
(b) fund flow statements
31-3-08 31-3-07
Sources of funds
Share capital 5000 4000
General reserve 1000 800
P&L A/c 400 200
Share premium 1000 500
Secured loans 4000 3000
Unsecured loans 3000 1000
Application of funds
Fixed assets-gross block 12000 10000
Less:accumulated depn 3000 2000
Net block 9000 8000
Capital work in progress 3000 -
Investments 2000 500
Current assets:
Inventories-raw material 700 600
Work in progress 250 300
Finished goods 150 200
Sundry debtors 1200 1300
Prepayments 200 150
Cash and bank 500 400
Loans & advances:
Advance tax 1400 900
Loans to employees(long term) 1000 500
Current liabilities:
Sundry creditors 800 950
Outstanding expenses 400 300
Provisions:
Provisions for retirement benefits 350 300
Tax provisions 1450 1000
Proposed dividend 1000 800
Additional information:
1) actual tax liability for 2006-07 was Rs 950
2) a piece of machinery costing Rs 500, accumulated depreciation Rs 200 was sold for Rs 250. The loss was charged to profit and loss account
3) a portion of secured loan as on 31-3-07 amounting to Rs 400 was converted into equity at premium Rs 200. There was also fresh issue of equity at 100% premium.
4) out of secured loans as on 31-3-08 Rs 500 were short term loans
5)out of unsecured loans short term loans were to the extent of Rs 400 and Rs 500 respectively as on 31-3-07 and 31-3-08.
6) out of investment Rs 200 were current investment as on 31-3-07 and Rs 500 were current investments as on 31-3-08
7) there was revaluation of fixed asset during 2007-08 and the revaluation profit Rs 500 was charged to capital reserve. Then you are required to prepare:
(a) statement showing changes in working capital
(b) fund flow statements