Question

Q6. From the following information prepare Cash Flow Statement for the year
ending on 31 March 2020:
PROMINENT Ltd
Balance Sheets at March3.2020
Particulars
Note Amount (in Rs)
No.
31-03-2020 31-03-2019
EQUITY AND LIABILITIES
Equity Shares capital (Rs 10 each)
16,00,000
12,50,000
0
1,50,000
Capital Redemption Reserve
Surplus Account
1.75,000
O
8% Debentures
3.50.000
6,20,000
Bills payable
4,00,000
3,40,000
Sundry Creditors
4,00.000
4,00,000
Provision for Tax
75.000
60.000
TOTAL
30,00,000
28,20,000
ASSETS
Goodwill
2. 50.000
3.25,000
Land
6,00,000
4,50,000
Plant & Machinery
15,75,000
15.75,000
Trade Receivables
3,20.000
2,30,000
Inventories
2.40.000
1,80,000
Cash and Bank Balances
15.000
36,000
7
N
Debtors
0
24,000
TOTAL
30,00.000
28,20,000
Additional information:
(1) Depreciation charged on Plant & Machinery was Rs1,00,000
(2) Provision for Tax made during the year 2019-20 was Rs70,000
(3) Dividend proposed for the year 2018-19 and 2019-20 were R$75,000
and Rs1,00,000 respectively
(4) Debentures amounting to Rs2,70,000 were redeemed on 1st April,
2019. Interest on debentures was timely paid
(5) Bonus shares of Rs 1,50 000 were issued out of Capital redemption
Reserve​

Answer 1

Answer:

2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)

2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C

2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C

2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C

2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C

2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C(5) Creditors A/C

2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C(5) Creditors A/C(6) Furniture A/C

2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C(5) Creditors A/C(6) Furniture A/C(7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C

2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C(5) Creditors A/C(6) Furniture A/C(7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C(10) Discount A/C

2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C(5) Creditors A/C(6) Furniture A/C(7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C(10) Discount A/C(11) Rent Received A/c (12) Building A/C

2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)(1) Goods A/C(2) Wages A/C(3) Loan A/C(4) Debtors A/C(5) Creditors A/C(6) Furniture A/C(7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C(10) Discount A/C(11) Rent Received A/c (12) Building A/CCANA(✿(✿(✿(✿(✿(✿(✿(✿((✿