Following are the Balance Sheets of a public company as on 31st December, 2014 and 2015. 2014 2015 I. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital : Paid-up Equity Share Capital (b) Reserves and Surplus : Surplus Account (2) Non-current Liabilities 15% Debentures (3) Current Liabi'ities Creditors 2,40,000 3,00,000 14,200 16,200 72,000 66,000 Bills Payable Outstanding Liabilities for Compensation Provision for Taxation Proposed Dividend 36,000 42,000 75,000 42,000 21,000 40,800 65,200 34,800 58,000 30,000 Total Equity and Liabilities 5,67,200 5,86,000 п. Assets (1) Non-current Assets Fixed Assets Less : Accumulated Depreciation 2,46,000 66,000 2,40,000 90,000 Intangible Asset : Goodwill 1,80,000 40,000 1,50,000 30,000 (2) Current Assets Short-term Investment Stock Sundry Debtors Bank 1,20,000 60,000 1,20,000 47,200 1,40,000 70,000 1,44,000 52,000 Total Assets 5,67,200 5,86,000 Additional Information: Provision for taxation $ 38,000 was made during the year 2015. (Treat Provision for Taxation and Proposed Dividend as non-current liabilities). Interim dividend of $ 20,000 was paid during the year. A part of the fixed assets was sold for $ 8,000 during the year 2015. It had costed $ 21,000 depreciation $ 16,000 has been provided on it. Debentures of $ 6,000 were redeemed during 2015 at a premium of 10%. From the above (I) prepare a Schedule of Changes in Working Capital, and (11) Statement showing Sources and Uses of Funds. (1) (II) (I) (IV)
Following are the Balance Sheets of a public company as on 31st December, 2014 and 2015. 2014 2015 I. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital : Paid-up Equity Share Capital (b) Reserves and Surplus : Surplus Account (2) Non-current Liabilities 15% Debentures (3) Current Liabi'ities Creditors 2,40,000 3,00,000 14,200 16,200 72,000 66,000 Bills Payable Outstanding Liabilities for Compensation Provision for Taxation Proposed Dividend 36,000 42,000 75,000 42,000 21,000 40,800 65,200 34,800 58,000 30,000 Total Equity and Liabilities 5,67,200 5,86,000 п. Assets (1) Non-current Assets Fixed Assets Less : Accumulated Depreciation 2,46,000 66,000 2,40,000 90,000 Intangible Asset : Goodwill 1,80,000 40,000 1,50,000 30,000 (2) Current Assets Short-term Investment Stock Sundry Debtors Bank 1,20,000 60,000 1,20,000 47,200 1,40,000 70,000 1,44,000 52,000 Total Assets 5,67,200 5,86,000 Additional Information: Provision for taxation $ 38,000 was made during the year 2015. (Treat Provision for Taxation and Proposed Dividend as non-current liabilities). Interim dividend of $ 20,000 was paid during the year. A part of the fixed assets was sold for $ 8,000 during the year 2015. It had costed $ 21,000 depreciation $ 16,000 has been provided on it. Debentures of $ 6,000 were redeemed during 2015 at a premium of 10%. From the above (I) prepare a Schedule of Changes in Working Capital, and (11) Statement showing Sources and Uses of Funds. (1) (II) (I) (IV)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Following are the Balance Sheets of a public company as on 31st December, 2014
and 2015.
2015
2014
2$
I. Equity and Liabilities
(1) Shareholders' Funds
(a) Share Capital :
Paid-up Equity Share Capital
(b) Reserves and Surplus :
Surplus Account
(2) Non-current Liabilities
15% Debentures
(3) Current Liabi'ities
Creditors
2,40,000
3,00,000
14,200
16,200
72,000
66,000
36,000
42,000
42,000
21,000
40,800
Bills Payable
Outstanding Liabilities for Compensation
Provision for Taxation
Proposed Dividend
75,000
58,000
30,000
65,200
34,800
Total Equity and Liabilities
5,67,200
5,86,000
п. Assets
(1) Non-current Assets
2,46,000
66,000
Fixed Assets
Less : Accumulated Depreciation
2,40,000
90,000
1,80,000
Intangible Asset : Goodwill
1,50,000
30,000
40,000
(2) Current Assets
Short-term Investment
Stock
1,20,000
60,000
1,20,000
47,200
1,40,000
70,000
1,44,000
52,000
Sundry Debtors
Bank
Total Assets
5,67,200
5,86,000
Additional Information:
(1)
Provision for taxation $ 38,000 was made during the year 2015. (Treat Provision for
Taxation and Proposed Dividend as non-current liabilities).
Interim dividend of $ 20,000 was paid during the year.
A part of the fixed assets was sold for $ 8,000 during the year 2015. It had costed $ 21,000
depreciation $ 16,000 has been provided on it.
Debentures of $ 6,000 were redeemed during 2015 at a premium of 10%.
From the above (I) prepare a Schedule of Changes in Working Capital, and (11) Statement
showing Sources and Uses of Funds.
(I1)
(II)
(IV)
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