Following is the Balance Sheets of Akash Ltd. as at 31-3-2014.

Akash Ltd.

Balance Sheet

Particulars Note No. 31.3.2014
(₹)
31.3.2013
(₹)
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
TOTAL 19,95,000 17,39,000
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:
Current Investments 8,000 5,000
b. Inventory 37,000 59,000
c. Trade Receivable 26,000 23,000
d. Cash and Cash Equivalents 14,000 12,000
TOTAL 19,95,000 17,39,000

Notes to Accounts

Note Number Particulars 31.3.2014
(₹)
31.3.2013
(₹)
1 Reserves and Surplus
Surplus (Balance in Statement of Profit & Loss) 2,50,000 1,10,000
2 Short Term Borrowings
Bank Overdraft 12,000 10,000
3 Short-term Provisions
Provision for Tax 18,000 11,000
4 Tangible Assets:
Machinery 20,00,000 17,00,000
Accumulated depreciation (1,40,000) (90,000)
5 Intangible Assets:
Patents 50,000 30,000

Additional Information:

(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.

 

Marks-6, CBSE:2016-17/Sample/Q-23

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