The summarized Balance Sheets of Lalgola Ltd as on 31 March 2009 and 31 March 2008 are given as follows:
|
Liabilities |
As on 31 |
As on 31 |
Assets |
As on 31 March 2009 |
As on 31 |
|
Equity Share Capital (of Rs. 100 each) |
2,30,000 |
1,97,003 |
Fixed Assets |
6,00,000 |
3,60,000 |
|
Investment |
10,000 |
11250 |
|||
|
Reserves & Surplus |
3,12,000 |
1,48,000 |
Stock |
1,96,000 |
1,42,500 |
|
Secured Loan |
87,000 |
Sundry Debtors |
1,40,000 |
90,700 |
|
|
Sundry Creditors |
2,98,000 |
2,51,450 |
Bank |
45,000 |
1,30,000 |
|
Provision for Tax |
1,72,000 |
65,000 |
Prepaid Expenses |
21,000 |
14,000 |
|
10,12,000 |
7,48,450 |
10,12,000 |
7,48,450 |
Additional Information:
- Investments costing Rs. 5,000 were sold during the year for Rs. 4,800 and government securities with the face value of Rs. 4,000 were purchased during the year for Rs. 3,750.
- The position of reserves and surplus was as follows:
|
Balance on 1 April 2008 |
1,48,000 |
|
|
Add: |
Net Profit for 2008–09 |
1,98,500 |
|
3,46,500 |
||
|
Less: |
Dividend |
34,500 |
|
Balance on 31 March 2009 |
3,12,000 |
- Accumulated depreciation on Fixed Assets on 31 March 2009 and on 31 March 2008 were Rs. 1,80,000 and Rs. 1,60,000 respectively. Depreciation provided for 2008–09 amounted to Rs. 30,000.
- Machinery costing Rs. 20,000, which was one-half depreciated, was discarded and written off in 2008–09.
You are asked to prepare a Cash Flow Statement for the year that ended on 31 March 2009 as per AS-3.