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Prepare Cash Flow Statement - vickygupta - 09-06-2011
From the following Balance Sheets of 15 M/s. Gupta & Co., prepare the Cash Flow Statement for the year ended March 31, 2007.
Liabilities 2006(Rs.) 2007(Rs.) Assets 2006 (Rs.) 2007(Rs.)
Creditors 20,000 22,000 Cash 8,000 22,000
Outstanding Debtors 15,000 11,000
Bills
Expenses 5,000 1,000 Receivable 5,000 ---
Loan From X 10,000 5,000 Stock 20,000 28,000
Fixed
Capital 1,08,000 1,68,000 Assets 95,000 1,35,000
--------- --------- --------- ---------
1,43,000 1,96,000 1,43,000 1,96,000
During the year, the proprietor introduced Rs. 20,000 as additional capital. The net profits for the year, after charging Rs. 5,000
as depreciation on fixed assets, were Rs. 50,000.