From the following particulars, prepare a Cash Flow Statement of Chalsa Ltd for the year that ended on 31 December 2007:
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Dr. Profit & Loss A/c for the Year that Ended on 31 December 2007 Cr. |
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To Opening Stock |
5,500 |
By Sales |
2,16,000 |
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To Purchases |
80,500 |
By Closing Stock |
20,000 |
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To Wages |
16,000 |
By Loss of Stock |
5,000 |
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To Gross Profit c/d |
1,39,000 |
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2,41,000 |
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2,41,000 |
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To Expenses |
10,000 |
By Gross Profit b/d |
1,39,000 |
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To Depreciation |
12,000 |
By Income from Investment (Tax Free) |
6,000 |
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To Bad Debt |
1,000 |
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To Loss on Sale of Plant |
5,000 |
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To Loss of Stock less Insurance Claim (i.e., Net loss) |
1,000 |
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To Deferred Expenses |
5,000 |
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To Income Tax |
10,000 |
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To Net Profit c/d |
1,01,000 |
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|
1 45000 |
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1 45000 |
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To Dividend |
8,000 |
By Balance b/d |
30,000 |
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To Reserve |
23,000 |
By Net Profit b/d |
1,01,000 |
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To Balance c/d |
100,000 |
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1,31,000 |
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1,31,000 |
Balance Sheets
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Liabilities |
2006 |
2007 |
Assets |
2006 |
2007 |
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Share Capital |
80,000 |
90,000 |
Fixed Assets |
80,000 |
2,10,000 |
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Reserve |
50,000 |
73,000 |
Investment |
68,500 |
30,000 |
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Profit & Loss A/c |
30,000 |
1,00,000 |
Stock in Trade |
5,500 |
20,000 |
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Creditors |
30,000 |
20,000 |
Debtors |
50,000 |
55,000 |
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Liabilities for Expenses |
8,000 |
10,000 |
Cash & Bank |
3,500 |
1,500 |
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Proposed Dividend |
5,000 |
10,000 |
Prepaid Expenses |
5,000 |
4,000 |
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Provision for Taxation |
15,000 |
20,000 |
Deferred Expenses |
10,500 |
5,500 |
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Advance Income from Investment |
5,000 |
3,000 |
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2,23,000 |
3,26,000 |
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2,23,000 |
3,26,000 |
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