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BCM 116 25216
BCM 116 25216
(i) The following financial statements are of Intercraft Ltd. - (2007) Rs. (2008) Rs.
Balance Sheet as on 31st March, 2010 Cash 2,00,000 1,60,000
Sundry Debtors 3,20,000 4,00,000
Liabilities Rs.(2009) Rs.(2010) Assets Rs.(2009) Rs.(2010) Temporary Investments 2,00,000 3,20,000
Equity Share Stock 18,40,000 21,60,000
1,40,000 2,20,000 Plant 1,00,000 1,82,000
Capital Prepaid Expenses 28,000 12,000
Profit and Total Current Assets 25,88,000 30,52,000
Loss A/c 14,000 20,000 Stock 30,000 80,000
Total Assets 56,00,000 64,00,000
Sundry Sundry Current Liabilities 6,40,000 8,00,000
28,000 78,000 10,000 40,000
Creditors Creditors Loans 16,00,000 16,00,000
Provision for Cash in Capital 20,00,000 20,00,000
2,000 6,000 40,000 14,000
Tax Hand Retained Earnings 4,68,000 8,12,000
Prepaid
4,000 8,000
Expenses Statement of Profit for the Current Year:
1,84,000 3,24,000 1,84,000 3,24,000
Rs.
Profit and Loss A/c Sales 40,00,000
For the year ended 31st March, 2010 Less cost of goods sold (28,00,000)
Particulars (Dr) Rs. Particulars (Cr) Rs.
Less interest (1,60,000)
To Opening Stock 30,000 By Sales 2,00,000
To Purchases 1,96,000 By Closing Stock 80,000
Net profit 10,40,000
To GP c/d 54,000 Less taxes @ 50% 5,20,000
2,80,000 2,80,000 Profit after taxes 5,20,000
To General Expenses 22,000 By GP b/d 54,000 Profit distributed 2,20,000
To Depreciation 16,000 From the above, appraise the financial position of the company from
To Provision for Taxation 8,000
To NP c/d 8,000 the point of view of:
54,000 54,000 (a) Liquidity
To Dividend 2,000 14,000
To balance b/d (b) Profitability
To Balance c/d 20,000 8,000
By NP
22,000 22,000 (c) Activity
Draw up Cash Flow Statement as per AS 3.
2 [Contd……. 3 [Contd…….