- Read the following hypothetical text and answer the given questions on this basis:
Shobha started a small enterprise selling hand-knitted sweaters under ‘Skill India Scheme’. As the business grew, the revenue started increasing. On 1st April 2020, she decided to form Shobha Lt.’ along with twelve other like-minded persons. The Balance Sheet of Shobha Ltd. as at 31st March, 2022, is given below.
From the figures given in the Balance Sheet and additional information, calculate ‘Cash Flows from Investing Activities’ and Cash Flows from Financing Activities’.
Balance Sheet of SHOBHA Ltd. as at 31st March, 2022
|I Equity and Liabilities:|
|(a) Share Capital||8,00,000||6,00,000|
|(b) Reserves and Surplus||1||2,00,000||50,000|
|2. Non-Current Liabilities|
|3. Current Liabilities|
|II Assets :|
|1. Non-Current Assets|
|(a) Fixed Assets|
|(i) Tangible Assets||4||6,00,000||5,00,000|
|(ii) Intangible Assets||5||-||50,000|
|(b) Non-current Investments|
|2. Current Assets|
|(b) Trade Receivables||4,00,000||90,000|
|(c) Cash and Cash Equivalents||70,000||60,000|
Note to Accounts :
|1||Reserves and Surplus (Surplus i.e., Balance in the Statement of Profit and Loss)||2,00,000||50,000|
|Provision for Tax||30,000||20,000|
- A piece of machinery costing ₹1,60,000 was sold at a loss of ₹20,000. Depreciation charged during the year amounted to ₹40,000
- ₹1,00,000, 10%o debentures were issued on 31.3.2022.