Following were the Balance Sheets of Macao Ltd, as on 31 March 2007 and 31 March 2008:
|
Liabilities |
Mon |
As on |
Assets |
As on |
Mon |
|
Equity Share Capital |
3,00,000 |
3,50,000 |
Goodwill |
1,00,000 |
85,000 |
|
Preference Share Capital |
1,50,000 |
1,00,000 |
Land & Bulk:ling |
2,00,000 |
1,70,000 |
|
Profit & Loss A/c |
30,000 |
73,000 |
Plant & Machinery |
80,000 |
2,00,000 |
|
General Reserve |
40,000 |
75,000 |
Investment |
20,000 |
35,000 |
|
Securities Premium |
20,000 |
25,000 |
Stock |
77,000 |
1,00,000 |
|
Capital Reserve |
– |
20,000 |
Debtors |
1,40,000 |
1,70,000 |
|
Sundry Creditors |
55,000 |
83,000 |
Bills Receivable |
20,000 |
30,000 |
|
Proposed Dividend |
42,000 |
50,000 |
Cash & Bank |
25,000 |
22,000 |
|
Provision for Taxation |
40,000 |
50,000 |
Preliminary Expenses |
35,000 |
30,000 |
|
Bills Payable |
20.000 |
16,000 |
|||
|
6,97,000 |
8,42,000 |
6,97,000 |
8,42,000 |
Additional Information:
- One piece of land was sold at a profit which was credited to Capital Reserve.
- One machine, having a Book Value of Rs. 18,000, was sold for Rs. 15,000.
- Depreciation charged on Plant and Machinery for the year 2007–08 was Rs. 16,000.
- Tax Paid for the year 2006–07 amounted to Rs. 36,000.
- Dividend on Investment of Rs. 4,000 was received during the year, which included a pre-acquisition Dividend of Rs. 1,000.
- Out of the Proposed Dividend for the year 2006–07, Rs. 35,000 was approved by the Share Holders and paid in 2007–08, along with an Interim Dividend for the year of Rs. 12,000.
Prepare a Cash Flow Statement for the year that ended on 31 March 2008.