From the following information, calculate (i) Net profit before taxation andextraordinary items and (ii) cash from operating activities.2$8,000Surplus A/c on 1-1-2015Surplus A/c on 31-12-20155,50,000 Prepaid expenses on 1-1-20158,00,000 Accrued income on 31-12-2015Profit on sale of machinery15,0002,0001,000Amount transferred toGeneral Reserve50,000 Loss on sale of furnitureDividend pa.dIncome-tax provision made4,00050,00023,0002,00,000 Income on investments1,50,000 Depreciation provided10,000 Таx рaidDiscount on shares written offOutstanding expenses on 31-12-201525,000

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From the following information, calculate (i) Net profit before taxation and extraordinary items and (ii) cash from operating activities. 2$ 8,000 $ Surplus A/c on 1-1-2015 Surplus A/c on 31-12-2015 5,50,000 Prepaid expenses on 1-1-2015 8,00,000 Accrued income on 31-12-2015 Profit on sale of machinery 15,000 2,000 1,000 4,000 50,000 23,000 Amount transferred to General Reserve 50,000 Loss on sale of furniture Dividend pa.d Income-tax provision made 2,00,000 Income on investments 1,50,000 Depreciation provided 10,000 Tax paid 25,000 Discount on shares written off Outstanding expenses on 31-12-2015

From the following information, calculate (i) Net profit before taxation and extraordinary items and (ii) cash from operating activities. 2$ 8,000 $ Surplus A/c on 1-1-2015 Surplus A/c on 31-12-2015 5,50,000 Prepaid expenses on 1-1-2015 8,00,000 Accrued income on 31-12-2015 Profit on sale of machinery 15,000 2,000 1,000 4,000 50,000 23,000 Amount transferred to General Reserve 50,000 Loss on sale of furniture Dividend pa.d Income-tax provision made 2,00,000 Income on investments 1,50,000 Depreciation provided 10,000 Tax paid 25,000 Discount on shares written off Outstanding expenses on 31-12-2015

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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