Following is the Balance Sheets of Akash Ltd. as at 31-3-2014.
|I. EQUITY AND LIABILITIES:|
|1. Shareholder’s Fund:|
|a. Share Capital||15,00,000||14,00,000|
|b. Reserve and Surplus||1||2,50,000||1,10,000|
|2. Non-Current Liabilities:|
|Long Term Borrowing||2,00,000||1,25,000|
|3. Current Liabilities:|
|Short Term Borrowings||2||12,000||10,000|
|b. Trade Payables||15,000||83,000|
|c. Short term Provisions||3||18,000||11,000|
|II. ASSETS :|
|1. Non-Current Assets:|
|a. Fixed Assets:|
|i. Tangible Assets||4||18,60,000||16,10,000|
|ii. Intangible Assets||5||50,000||30,000|
|b. Non-current Investments|
|2. Current Assets:|
|c. Trade Receivable||26,000||23,000|
|d. Cash and Cash Equivalents||14,000||12,000|
Notes to Accounts
|1||Reserves and Surplus|
|Surplus (Balance in Statement of Profit & Loss)||2,50,000||1,10,000|
|2||Short Term Borrowings|
|Provision for Tax||18,000||11,000|
(i) Tax paid during the year amounted to16,000.
(ii) Machine with a net book value of 10,000 (Accumulated Depreciation 40,000) was sold for 2,000.
Prepare Cash Flow Statement.