prepare cash flow statement Following are the extracts from the Balance Sheet of ABC Ltd.Liabilities31.3.2020Equity Share Capital10% Preference Share CapitalSecurities Premium AccountProfit & Loss A/cEquity Share Capital for the year ended 31st March, 2021 'includesLtd at par for supply of Machinery of 60,000.25,00,0007,00,0005,00,00020,00,00031.3.202135,60,0006,00,0005,50,00028,00,00060,000 of equity shares issued to GreyProfit & Loss account on 31st March, 2021 includes 50,000 of dividend received on Equity shares investedin X Ltd Show how the related items will appear in the Cash Flow Statement of ABC Ltd. as per AS-3

The cash flow statement is prepared at the end of the period to know the cash position. It reflects…

Following are the extracts from the Balance Sheet of ABC Ltd. Liabilities 31.3.2020 Equity Share Capital 10% Preference Share Capital Securities Premium Account Profit & Loss A/c 25,00,000 7,00,000 5,00,000 20,00,000 31.3.2021 35,60,000 6,00,000 5,50,000 28,00,000 Equity Share Capital for the year ended 31st March, 2021 'includes 60,000 of equity shares issued to Grey Ltd at par for supply of Machinery of 60,000.

Following are the extracts from the Balance Sheet of ABC Ltd. Liabilities 31.3.2020 Equity Share Capital 10% Preference Share Capital Securities Premium Account Profit & Loss A/c 25,00,000 7,00,000 5,00,000 20,00,000 31.3.2021 35,60,000 6,00,000 5,50,000 28,00,000 Equity Share Capital for the year ended 31st March, 2021 'includes 60,000 of equity shares issued to Grey Ltd at par for supply of Machinery of 60,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Francis Company has 24,000 shares of common stock outstanding at the beginning of 2016. Francis issued 3,000 additional shares on May 1 and 2,000 additional shares on September 30. It also has two convertible securities outstanding at the end of 2016. These are: 1. Convertible preferred stock: 2,500 shares of 8.5%, $50 par, preferred stock were issued on January 2, 2013, for $60 per share. Each share of preferred stock is convertible into 3 shares of common stock. Current dividends have been declared and paid. To date, no preferred stock has been converted. 2. Convertible bonds: Bonds with a face value of $250,000 and an interest rate of 5.5% were issued at par in 2015. Each $1,000 bond is convertible into 20 shares of common stock. To date, no bonds have been converted. Francis earned net income of $72,500 during 2016. The income tax rate is 30%. Calculate diluted earnings per share for 2016 and the incremental EPS of the preferred stock and convertible bonds. If required, round your…