value13 84.000). The annual installment was 268,160. On 31st March, 2020, the
memes were realized at 98% and the debentures were redeemed. Pass the necessary journal entries mod Prepare 12%
Debetares Account and Debeature Redemption Reserve Account
118.751
2. From the following extracts from the Balance Sheets of JAL Ltd Calculate Net Cash loflow from Operating Activities
water Tax to be disclosed in the Cash Flow Statement as per AS-3 issued by ICAI
Particulars
31.3.2020 31.3.2019)
Eqt Share Capital
10.92,000 6,00.000
General Reserve
2,52,000 3,00 000
Pratit & Loss AC
11.40,000
48,000
Secuntes Premium
60,000
Capital Redemption Reserve
1,20,000
Capital Grant
9,60,000
Nil
Convertible Debentures (into equity shares at 25% premium
2,40,000
Trade Payables
1,26,000 1,20,000
Goodwill
18,000
Plant & Machinery
9,18,000 6,00,000
Inventones
1,14,768 6,48,000
Trade Recervables
9,00,000 7,50,000
Less. Provision for Doubtful Debts
(2,28,000) (1,80,000)
Voluntary Separation Payments
1,50,000 78,000
Additional Information:
(2) Depreciation on Plant & Machinery written off @ 15%
(b) It was decided to value Inventories at cost whereas previously the practice was to value Inventories at cost less 10%
However the closing stock on 31.03.2020 was correctly valued at cost.
(c) On 31st March 2020, the business of Y Ltd was purchased for 372,000 payable in fully paid equity shares of 7 10 cach at a
premium of 20%. The assets included Inventories 31,968, Trade Receivables * 12,000, and Machine 722,032 In
addition Trade Payables of 18,000 were taken over
Debtors of 72,76,000 were written off against the Provision for Doubtful Debts A/c during the year. Grant of 7 12,00,000
60.000 adjusted against General Reserve.
amortised in P&L A/c Compensation received in a suit filed by the company 7 1,08,000. Voluntary Separation Payments
(18.75]
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