Net Profit (After Provision for Tax 3,06,000)
14,06,000
Proposed Dividend
2,42,000
Above Net Profit is determined after following Credit and Debits
Credits:
Compensation for Earthquake Disaster
1,50,000
(Gain) Profit on Sale of Machinery
35,000
(W) Dividend Received on Investments
30,000
Debits
Depreciation
2,80,000
Loss on Sale of Investments
50,000
Decrease or increase in Current Assets and Cument Liabilities is as follows:
Decrease in Current Assets (Other than Cash and Cash Equivalents)
20,000
Increase in Current Liabilities (Other than Bank Overdraft and Cash Credit) Increase in Current Assets (Other than Cash and Cash Equivalents)
3,02,000
Decrease in Current Liabilities (Other than Bank Overdraft and Cash Credit)
Other information
1,28,000
Income Tax Paid
Refund of Income Tax Received
2,36,000
6,000
Answers
Answer:
Cash Flow from Operating Activities: (7 marks) Net Profit (After Provision for Tax Rs. 3,06,000) Proposed Dividend Above Net Profit is determined after following Credit and Debits: Rs. 14,06,000 2,42,000 Credits: (i) Compensation for Earthquake Disaster (ii) (Gain) Profit on Sale of Machinery (iii) Dividend Received on Investments Debits: (i) Depreciation (ii) Loss on Sale of Investments 1,50,000 35,000 30,000 2,80,000 60,000 Decrease or Increase in Current Assets and Current Liabilities is as follows: Decrease in Current Assets (Other than Cash and Cash Equivalents) Increase in Current Liabilities (Other than Bank Overdraft and Cash Credit) Increase in Current Assets Other than Cash and Cash Equivalents) Decrease in Current Liabilities (Other than Bank Overdraft and Cash Credit) 20,000 3,02,000 6,00,000 1,28,000 Other Information: Income Tax Paid Refund of Income Tax Received 2,36,000 6,000
Answer:
Net Profit (After Provision for Tax 3,06,000)
14,06,000
Proposed Dividend
2,42,000
Above Net Profit is determined after following Credit and Debits
Credits:
Compensation for Earthquake Disaster
1,50,000
(Gain) Profit on Sale of Machinery
35,000
(W) Dividend Received on Investments
30,000
Debits
Depreciation
2,80,000
Loss on Sale of Investments
50,000
Decrease or increase in Current Assets and Cument Liabilities is as follows:
Decrease in Current Assets (Other than Cash and Cash Equivalents)
20,000
Increase in Current Liabilities (Other than Bank Overdraft and Cash Credit) Increase in Current Assets (Other than Cash and Cash Equivalents)
3,02,000
Decrease in Current Liabilities (Other than Bank Overdraft and Cash Credit)
Other information
1,28,000
Income Tax Paid
Refund of Income Tax Received
2,36,000
6,000