Wednesday
April 23, 2014

Homework Help: Accounts

Posted by Neeraj on Saturday, October 16, 2010 at 10:42am.

From the following Balance Sheets of Sriramco, prepare
(a) Statement of Changes in Working Capital, and (b) Funds Flow Statement: Balance Sheet of Sriramco as on 31st Decemberů

Assets
Goodwill
Land and Buildings
Plant
Investments
Book Debts
Stock
Cash in hand and at Bank
Preliminary Expenses




Liabilities
Share Capital
Equity Share Capital
10% Red. Pref. Share Capital
Capital Reserve
General Reserve
P. and L. Account
Proposed Dividend
Sundry Creditors
Provision for Taxation
2000. 2001
Rs.
90,000
2,80,000
1,00,000
30,000
1,80,000
80,000
40,000
20,000 Rs.
80,000
2,00,000
2,00,000
40,000
2,10,000
1,20,000
45,000
10,000
8,20,000 9,05,000





4,00,000
2,00,000
-
60,000
30,000
60,000
30,000
40,000




5,00,000
1,00,000
30,000
80,000
45,000
60,000
45,000
45,000
8,20,000 9,05,000

The following additional information is also available
(a) A machine has been sold for Rs. 40,000 whose written down value was Rs. 36,000.
Depreciation of Rs. 15,000 has been charged on plant in 2001;
(b) A piece of land had been sold out in 2001 and the profit on the sale has been credited to
capital reserve;
(c) An interim dividend of Rs. 30,000 has been paid in 2001;
(d) Income tax paid during 2001 amounts to Rs. 45,000;
(e) Preference Shares were redeemed at 5% premium.

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