Question

2. The following are the summarized Balance Sheets of ABC Ltd as on 31st December,
2019 and 31st December 2020, respectively:
Balance Sheets as at 31st December
2019
2020
(Rs. In thousands)
Assets:
Freehold Property at Cost
33.00
24.00
Plant and machinery (cost less depreciation) 20.80
60.30
Inventories
30.35
32.85
Sundry Debtors
20.10
24.75
Cash and Bank
9.25
16.80
Preliminary Expenses
1.20
0.60
114.70
159.30
Liabilities:
60.00
75.00
Issued Share Capital
Share Premium Account
5.00
Capital Reserve
17.00
Profit & Loss Account
21.50
21.20
Sundry Creditors
27.20
32.60
Proposed Dividends
6.00
8.50
114.70
159.30
No plant and machinery was sold during the year 2020. Depreciation written off during
2020 was Rs 7,500. Net Profit for the year was Rs. 8,200. dividend paid during 2020 in
respect of previous year was Rs. 6,000. Capital reserve represented a profit on sale of
freehold premises. You are Required to prepare:
(1) a Statement showing Changes of Working Capital during 2020; and
(ii) A Funds Flow Statement for the same period.​

Answer 1

Answer:

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