afm ex cfs

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1. From the following information, determine cash received from debtors during current year

Particulars Rs in lakh

Debtors in beginning of current year 1000

Total sale 20000

Cash sale 5000

Debtors at the end of current year 3000

2. Determine cash paid to supplier

Particulars Rs in lakh

Cost of goods sold 480

Opening stock 30

Closing stock 50

Creditors at the beginning of the year 60

Creditors at the end of the year 90

Cash purchase 40

3. From the following

a. Determine the gross amount of plant and machinery purchased

b. Depreciation charged during the current year

Plant assets (net of depreciation) at the year-end Rs 285 lakh and the year beginning Rs 127 lakh.

Gross plant assets increase by Rs 186 lakh even through machine costing initially Rs 58 lakh

with book value of Rs 38 lakh was sold at loss of Rs 25 lakh



1. From the following summary cash account of Y ltd. Prepare cash flow statement for the

current year ended march 31 in accordance with AS-3 using the direct method. The

company does not have any cash equivalents.

Summary of Cash Account(,000)

For the current year ended march 31

Opening balance 50 Payment to suppliers 2000

Issue of equity

shares

300 Purchase of fixed

assets

200

Receipt from

customer

2800 Overhead exp. 200

Sale of fixed assets 100 Wages and salaries 100

Taxation 250

Dividend 50

Repayment of bank

loan

300

Closing balance 150

3250 3250



1. Following condensed financial statement related to RST ltd. For the years ended on 31st

march

Balance sheet (Rs. In ‘000’)

Liabilities 2007 2008 Assets 2007 2008

1. Share capital 100 150 1.F.A. (at cost) 270 370

2. Reserve 90 114 Less: accumulated dep. (70) (90)3. Long term debt. 150 106 Net F.A. 200 280

4.Creditors 40 85 2.Investment 40 30

5.provision for income tax 20 15 3.current assets:

Stock 55 48

Debtors 70 100

Cash & bank 30 10

4.Misc. expenditures 5 2

400 470 400 470

Profit and loss a/c (Rs. In ‘000’) For the year ended on 31-3-2008

Particular Amount Amount

1. Sales 600

2. Less: opening stock 55

+ purchase 491

-closing stock (48)

COGS (498)

(A) Gross profit 102

3. Less:

i. Cash operating exp. (30)

ii. Depreciation (20)iii. Misc. exp. Written off (3)

iv. Interest (15)

v. Loss on sale of investment (2)

vi. Income tax provision (15) (85)

(B) Operating income 17

4. Add:

i. Income from investment 3

ii. Extraordinary income 4 7

(C) Net profits 24

Additional information( Rs. In ‘000’)

1. The sale of investment worth Rs. 10 realized only Rs. 8

2. Last years income tax was paid in full.

Prepare the cash flow statement under AS-3 indirect method



3. Following detail related to the Alpha Ltd. For the accounting year ending on 31st

march 2008

Condensed profit & loss a/c (Rs in crores)

For the year ended on 31st march 2008

Particular Amount Amount

1. Sales 1400

2. Profit on sale of investment 5

3. Dividend income on investment 15

(A) Total income 1420

Less:

Expenses:

1. Manufacturing 961

2. Depreciation 140

3. Misc. exp. W/off 3

4. Interest on long term debt. 40

5.

Loss on sale of fixed assets 10(B) Total exp 1154

(C) Profit before tax and extra ordinaryitems

266

Less: voluntary retirement scheme (extra ordinary item) (50)

(D) Profit before tax 216

Less: taxes (100)

(E) Profit after tax 116

Less: proposed dividend (24)

(F) Net retained profits transfer to reserves 92

Balance sheet (Rs in crores)For the year ended on 31

st march

Liabilities 0 0 Assets 2007 2008

1. Equity capital

(Each of Rs 10)

180 220 1. Fixed assets 1000 1403

2. Reserves 220 312 Less :acc. Dep. (400) (530)

3. Long term debt. 400 490 Net FA 600 873

4. Current liabilities 0 0 2. Investments 50 80

Creditors 100 114 3. Current assets 0 0

Proposed divi. 20 24 Inventories 100 60

Provision for tax 80 100 Debtors 200 210

Cash and bank 40 30

4. Misc. exp. 10 7

1000 1260 1000 1260

Additional info (Rs in crores)

1. An old fixed assets costing Rs 107 with a WDV of Rs. 97 was sold at a loss of Rs. 10

and new fixed assets costing Rs. 510 was purchased during 2007-2008



2. Investment costing Rs. 80 were sold at a profit of Rs 5 and new investments were

made amounting to Rs 110

3. Last year ’s proposed dividend was paid during the current year.

4. Misc. exp. Of Rs. 3 were written off during the year.

5. Last year’s provision for tax was paid in full during the current year.

6. Current years interest on long term fund was paid in full

7. New equity capital of Rs 40 and new long term debt of Rs 90 were raised during the

current year.

Prepare a cash flow statement for the year ended on 31st march 2008 under the

indirect method as per AS-3

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afm ex cfs