The Balance Sheets of Bharbi Ltd as on 31 March 2008 and 31 March 2009 are as follows:
|
Liabilities |
As on 31 |
As on 31 March 2009 |
Assets |
As on 31 |
As on 31 |
|
Share Capital |
3,00,000 |
4,00,000 |
Fixed Assets at Cost |
8,00,000 |
9,50,000 |
|
General Reserve |
1,70,000 |
2,00,000 |
Less: Depreciation |
2,30,000 |
2,90,000 |
|
Profit & Loss A/c |
60000 |
75,000 |
5,70,000 |
6,60.000 |
|
|
Capital Reserve |
– |
10,000 |
Trade Investment |
1,00,000 |
80,000 |
|
Debentures |
2,00,000 |
1,40,000 |
Current Assets |
2,00,000 |
3,00,000 |
|
Provision for Tax |
90,000 |
85,000 |
Bank |
80,000 |
30,000 |
|
Proposed Dividend |
30,000 |
36,000 |
Preliminary Expenses |
20,000 |
10,000 |
|
Unpaid Dividend |
– |
4,000 |
|||
|
Current Liabilities |
1,20,000 |
1,30.0E0 |
|||
|
9,70,000 |
10,80,000 |
9,70,000 |
10,80,000 |
During the year 2008–09, the company:
- Sold one machine for Rs. 25,000, the cost of which was Rs. 50,000 and the depreciation provided on it was Rs. 21,000.
- Provided Rs. 95,000 as depreciation.
- Redeemed 30% of the debentures @ 103.
- Sold some trade investment at a profit which was credited to Capital Reserve.
- Decided to value the stock at cost whereas previously the practice was to value the stock at cost less 10%. The stock according to books on 31 March 2008 was Rs. 54,000. The stock on 31 March 2009 was correctly valued at cost Rs. 75,000.
- Decided to write off Fixed Assets costing Rs. 14,000 (fully depreciated).
Prepare a Cash Flow Statement for the year that ended on 31 March 2009 as per AS-3.