The Balance Sheets of KLO Ltd as on 31 March 2008 and 31 March 2009 are as follows:
|
Liabilities |
31 March |
31 March |
Assets |
31 March |
31 March |
|
Share Capital |
12,00,000 |
14,00,000 |
Axed Assets |
20,00,000 |
24,00,030 |
|
General Reserve |
4,00,000 |
5,00,000 |
Less: Accumulated Depreciation |
4,00,000 |
5,00,000 |
|
Profit on Sale of |
– |
20,000 |
16,00,000 |
19,03,000 |
|
|
Investment |
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|
7% Debentures |
6,00,000 |
4,00,000 |
Stock (at Cost) |
4,00,000 |
5,40,000 |
|
Creditors for Goods |
3,20,000 |
5,00,000 |
Sundry Debtors (Less |
4,50,000 |
4,90,000 |
|
Provision of Rs. 40,000 & |
|||||
|
Rs. 50,000 respectively) |
|||||
|
Creditors for Expenses |
20,000 |
24,000 |
Bills Receivable |
80,000 |
1,30,000 |
|
Proposed Dividend |
60,000 |
70,000 |
Prepaid Expenses |
20,000 |
24,000 |
|
Provision for Tax |
1,40,000 |
1,50,000 |
Miscellaneous |
30,000 |
20,000 |
|
Expenditure |
|||||
|
29,40,000 |
34,64,000 |
29,40,000 |
34,64,000 |
Additional Information:
- During the current year, the Fixed Assets (valued at Rs. 20,000, depreciation written off —Rs. 60,000) was sold for Rs. 16,000.
- Proposed dividend for the last year paid in the current year.
- During the current year, investments costing Rs. 1,60,000 were sold and later in the year, investments of the same cost were purchased.
- Debentures were redeemed at a premium of 10%.
- Liability for tax for the last year came to Rs. 1,10,000.
- During the current year, the bad debts written off were Rs. 30,000 against provision.
You are asked to prepare a Cash Flow Statement for the year that ended on 31 March 2009 as per AS-3.