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Test of Cash Flow Statement

This document is a test for Class 12th Accountancy focusing on Cash Flow Statements. It includes various types of questions such as very short answer, short answer, and long answer questions related to cash flow activities, calculations, and preparation of cash flow statements. The test is structured with specific instructions and a maximum mark allocation of 15 within a time limit of 60 minutes.

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jainvaibhav29012003
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3 views

Test of Cash Flow Statement

This document is a test for Class 12th Accountancy focusing on Cash Flow Statements. It includes various types of questions such as very short answer, short answer, and long answer questions related to cash flow activities, calculations, and preparation of cash flow statements. The test is structured with specific instructions and a maximum mark allocation of 15 within a time limit of 60 minutes.

Uploaded by

jainvaibhav29012003
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Class 12th - Accountancy

Test 02 – Cash Flow Statement

Instructions:
All the working notes should be made clearly wherever required.
Q. No. 1 to 3 are Very Short Answer Type Questions and carry 1 marks each.
Q. No. 4 and 5 are Short Answer Type Questions and carry 3 marks each.
Q. No. 6 is Long Answer Type Questions and carry 6 marks each.

Time Allowed: 60
0 Minutes Max. Marks: 15

1. Kanhaiya Ltd is a financing company, under which activity will the amount of interest
paid on a debentures in the current year be shown:
a. Investing Activities b. Financing Activities
c. Both (a) and (b) d. Operating Activities

2. Interest Received on Calls in arrears by a company is a part of ______________ Activity.

3. Provision for Tax as on 31st March, 2020 ₹40,000


40,000
Provision for Tax as on 31st March, 2019 ₹75,000
,000
Payment of Tax during 2019
2019-2020 ₹105,000
,000
Amount of Provision for Tax of Current Year will be:
a. ₹40,000 b. ₹75,000 c. ₹145,000 d. ₹70,000

4. From the following


wing information, Calculate Cash Flow from Investing Activities;
Particulars 31.03.2020 (₹) 31.03.2019 (₹)
Machinery (Cost) 420,000 400,000
Accumulated Depreciation 110,000 100,000
Patents 160,000 280,000
Additional Information:
(i) During the year, a machine costing ₹40,000 with its accumulated depreciation
₹24,000
24,000 was sold at a profit of 25% of Book Value.
(ii) Patents were written off to the extent of ₹40,000 and some patents were sold
at a profit of ₹20,000
₹20,000.

5. Sumita Ltd issued 100,000 Equity Shares of ₹10 each to its existing shareholders on
o the
condition that they shall also subscribe for the 10,000; 10% Debentures of ₹100 each at
a premium of 10%.
All the shares and debentures were subscribed and amount w was
as duly received.
The company incurred expenses on issue of shares and debentures amounting to
₹100,000.
You are required to calculate Cash flow from Financing Activities for the period.

6. You are required to prepare Cash Flow Statement (as per AS


AS-3)
3) for the year ended 31st
March 2020 from the following Balance Sheet:

Accounts Ke Guruji
CA Kaushal Chhajer Sir (+91 94145 20064)
“Always remember, you are studying for yourself and not for anyone else”
1
Class 12th - Accountancy
Test 02 – Cash Flow Statement

BALANCE SHEET OF KINDER JOY LTD


as at 31st March, 2020
Particulars Note No. 31st March, 2020 31st March, 2019
I. EQUITY & LIABILITIES
1. Shareholders' Funds
(a) Share Capital 35,00,000 25,00,000
(b) Reserves and Surplus (Statement of
Profit and Loss) 12,50,000 10,00,000
2. Non- Current Liabilities:
(a) Long Term Borrowings (10%
Debentures) 12,50,000 3,50,000
3. Current Liabilities:
(a) Trade Payables 50,000 75,000
(b) Short Term Borrowings (Bank
Overdraft) 2,50,000 1,50,000
(c) Short Term Provisions 1 1,50,000 75,000

Total 64,50,000 41,50,000

II. ASSETS
1. Non Current Assets
(a) Fixed Assets (Tangible) 2 40,00,000 22,50,000
(b) Intangible Assets (Patents) 3,50,000 5,00,000
2. Current Assets
(a) Short Term Investments 25,000 50,000
(b) Inventories 6,25,000 5,00,000
(c) Trade Receivables 12,50,000 7,50,000
(d) Cash and Cash Equivalents 2,00,000 1,00,000

Total 64,50,000 41,50,000


Notes to Accounts:
Particulars 31st March, 2020 31st March, 2019
1. Short Term Provisions
Provision for Tax 1,50,000 75,000
1,50,000 75,000

2. Fixed Assets - Tangible


Plants 44,00,000 25,00,000
Less: Accumulated Depreciation 4,00,000 2,50,000
40,00,000 22,50,000

Additional Information:
(i) A part of the plant, book value ₹75,000 (costing ₹125,000) was sold for ₹45,000
(ii) Tax paid ₹50,000
(iii) Interest of ₹125,000 was paid on Debentures.

Accounts Ke Guruji
CA Kaushal Chhajer Sir (+91 94145 20064)
“Always remember, you are studying for yourself and not for anyone else”
2

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