From the following Balance Sheets of JP International, prepare a Cash Flow Statement for the year that ended on 31 December 2006, as per AS-3:
Balance Sheets as on
|
Liabilities |
31 |
31 |
Assets |
31 |
31 |
|
Equity Share Capital |
150 |
350 |
Goodwill |
75 |
60 |
|
Redeemable Preference |
Fixed Assets |
355 |
620 |
||
|
Share Capital |
100 |
150 |
Inventories |
110 |
70 |
|
Debenture |
150 |
100 |
Debtors |
120 |
75 |
|
Long-term loan |
100 |
50 |
Bank |
Nil |
25 |
|
Reserves &Surplus |
40 |
50 |
Prepaid Expenses |
30 |
20 |
|
Bank Overdraft |
60 |
– |
Miscellaneous Expenditure |
40 |
30 |
|
Sundry Creditors |
80 |
100 |
|||
|
Proposed Dividend |
30 |
60 |
|||
|
Provision for Taxation |
20 |
40 |
|||
|
730 |
900 |
730 |
900 |
Additional information available on 31 December 2006:
- Accumulated Depreciation on Fixed Assets amounted to Rs. 1,60,000 and Rs. 1,85,000, as on 31 December 2005 and 31 December 2006, respectively; and a Plant Costing Rs. 30,000 (25% depreciated) was sold for Rs. 50,000.
- A land of Rs. 1,50,000 and stock of Rs. 40,000 were purchased for a consideration of Rs. 2,00,000, paid for in shares.
- Dividend for 2005 was paid along with an interim Dividend of 5% on the Opening Equity Capital.
- Tax Liabilities for 2005 was settled at Rs. 28,000.