Updated 12th Standard CBSE Accountancy Study Materials 2022-2023 Exams

12th Standard Accountancy Cash Flow Statement Important Question Paper Nov-30 , 2018

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In this question paper, questions are covered from the chapter Cash Flow Statement and questions are prepared as per NCERT guidelines. Questions are covered from NCERT solutions and NCERT Exemplar.

Cash Flow Statement Important Question Paper

12th Standard CBSE

Accountancy

All questions are compuslory.

Time : 01:30:00 Hrs

Total Marks : 50

Section A

What is meant by cash flow statement?

Payment of salary to staff is classified or shown as operating activity for both non-finance and finance company.Do you agree?

Under which type of activity will you classify 'issuing 9% debentures' while preparing cash flow statement.

From the following information, calculate cash flow from investing activities and financing activities.

Particulars	Opening (Rs.)	Closing(Rs.)
Furniture (At cost)	40,000	56,000
Accumulated Depreciation on Furniture	12,000	18,000
Capital	2,00,000	2,80,000
Loan from Bank	50,000	30,000

During the year, furnitures costing Rs.8,000 was sold at a profit of Rs.6,000.Depreciation on furniture charged during the year amounted to Rs.10,000.

Section B

Following Particular are taken from note to accounts to the Balance Sheets of Vijay Ltd. as on 31.03.2014 and 31.03.2015. Prepare a Cash Flow Statement.

Particulars	31.03.2015 Rs.	31.03.2014 Rs.
I. Equity and liabilities
Share Capital	10,00,000	7,50,000
Reserves and Surplus (Balance in Statement of Profit and Loss)	1,50,000	Nil
Current lianilities :
Trade Payables	2,00,000	1,50,000
Short-term Provisions (Proposed Dividend)	1,00,000	50,000
Total	14,50,000	9,50,000
II. Assets
Fixed Assets-Tangible	9,00,000	6,00,000
Current Assets	5,50,000	3,50,000
Total	14,50,000	9,50,000

Additional Information :
(i) During the year, Rs. 50,000 depreciation was charged on fixed tangible assets.
(ii) A piece of machinery included in fixed assets, costing Rs. 10,000 in which depreciation charged was Rs. 4,000 sold for Rs. 5,000

From the following Balance Sheets and the additional information of Good Wood Co., you are required to prepare a Cash Flow Statement as per As-3 (Accounting Standard 3) :

Particulars	31.03.2015	31.03.2014
I. Equity and liabilies
Shareholders' Funds :
(a) Share Capital	45,000	30,000
(b) Reserves and Surplus	18,500	5,000
Current Liabilities :
(a) Trade Payables	8,500	6,000
(b) Other Current Liabilities (Outstanding rent)	2,000	2,500
Total	74,000	43,500
II. Assets
Non-current Assets :
Fixed Assets - Tangible	48,000	20,000
Current Assets :
(a) Invertories	9,000	8,000
(b) Trade Receivables	9,000	12,000
(c) Cash and Cash Equivalents	8,000	3,500
Total	74,000	43,500

Additional Information :
(i) Income tax paid during the year was Rs. 3,500.
(ii) Dividends paid during the year was 10%.

Prepare a Cash Flow Statement from the following Balance Sheet :

Particulars	Note No.	31.03.2015 Rs.	31.03.2014
I. Equity and liabilities
1. Shareholders' Funds :
(a) Share Capital		6,30,000	5,60,000
(b) Reserve and Surplus	1	3,08,000	1,82,000
2. Current Liabilities :
Trade Payables		2,80,000	1,82,000
Total		12,18,000	9,24,000

II. Assets
1. Non-current Assets :
Fixed Assets
Plant		3,92,000	2,80,000
2. Current Assets :
(a) Inventories		98,000	1,40,000
(b) Trade receivables		6,30,000	4,20,000
(c) Cash and Cash Equivalents		98,000	84,000
Total		12,18,000	9,24,000

Notes to Accounts

Note No. 1

Particulars	31.03.2013 Rs.	31.03.2012 Rs.
Reserve and Surplus Surplus (Balance in Statement of Profit and Loss)	3,08,000	1,82,000

Particulars

31.03.2013

Rs.

31.03.2012

Rs.

Reserve and Surplus

Surplus (Balance in Statement of Profit and Loss)

3,08,000

1,82,000

Additional Information :
(i) An old machinery having books value Rs. 42,000 was sold for Rs. 56,000.
(ii) Depreciation provided on machinery during the year was Rs. 28,000.

From the accounts prepared and cash flow statement of Forty Ltd. Complete the missing figures.

Dr. Provision for Taxation A/c Cr.

Particulars	Rs.	Particulars	Rs.
To cash A/c (Bal. Fig. - being tax paid)	.....	By Balance b/d	8,400
To Balance c/d	6,000	By Statement of Profit and Loss	9,400
	17,800		17,800

Dr. Fixed Tangible Assets A/c Cr.

Particulars	Rs.	Particulars	Rs.
To Balance b/d	80,000	By Accumulated Depreciation A/c (Transfer)	6,000
To Cash A/c (Bal. Fig. - Purchase of fixed tangible assets)	.....	By Cash A/c (Sale of fixed assets)	10,000
		By Statement of Profit and Loss	4,000
		(Loss on sale of fixed assets)
		By Balance c/d	82,000
	1,02,000		1,02,000

Dr Accumulated Depreciation A/c Cr.

Particulars	Rs.	Particulars	Rs.
To Fixed Tangible Assets A/c (Transfer)	6,000	By Balance b/d	.....
To Statement of Profit and Loss
(Bal. Fig. - being excess depreciation written back)	2,000
To Balance c/d	22,000
	30,000		30,000

(ii) Calculation of Profit before Tax :

	Amt(Rs.)
Loss as per Profit and Loss Statement	(400)
Add : Proposed Dividend made during the year	10,000
Provision for Tax made during the year	.....
Interim Dividend paid during the year	9,000
Profit before Tax	.....

(iii) Cash Flow Statement
for the year ended 31.03.2012

Sr. No.	Particulars	Details Rs.	Details Rs.
A.	Cash Flows from (or used in) Operating Activities :
	Profit before Tax	.....
	Adjustment for :
	.................................	.....
	Excess depreciation written back i.e. Profit	.....
	Interest Paid on debentures	.....
	Operating Profit before working Capital Changes	.....
	Add : Increase in Trade Payables	2,000
	Decrease in Trade Receivables	8,000
	Decrease in Inventories	10,000
	Decrease in Prepaid Expenses	400
	Cash Generated from Operating Activities	52,500
	Less : Tax Paid	.....

	Net Cash from Operating Activities	.....	.....
B.	Cash Flows from (or used in) Investing Activities :
	Purchase of Fixed Tangible Assets	.....
	Sale of Fixed Tangible Assets	.....

	Net Cash used in Investing Activities	.....	.....
C.	Cash Flows from (or used in) Financing Activities :
	Buy Back of Equity Share Capital	(25,000)
	Issue of 12% Preference Share Capital	5,000
	Redemption of 15% Debentures	(2,000)
	Raising of Short-term Borrowings (Cash Credit)	11,400
	Dividend Paid	(11,600)
	Interim Dividend Paid	.....
	Interest Paid on debentures	(2,100)
	Net Cash used in Finacing Activities	.....	.....
D.	net decrease in Cash and Cash Equivalents (A + B + C)		(4,600)
E.	Cash and Cash Equivalents - Opening Balance		.....
F.	Cash and Cash Equivalents - Closing Balance		2,400

Section C

While preparing cash Flow Statement of Alka Ltd. 'dividend paid' was shown as an operating activity by the accountant of the company. Was the correct in doing so? Give reason.

From the following information, calculate cash flow from investing activities.

Particulars	Closing(Rs.)	Opening(Rs.)
Machinery	8,40,000	8,00,000
Accumulated Depreciation	2,20,000	2,00,000
Patents	3,20,000	5,60,000

Additional Information(i) During the year, a machine costing Rs.80,000, accumulated depreciation Rs.48,000 was sold for Rs.40,000.
(ii) Patents were written-off to the extent of Rs.80,000 and some patents were sold at a profit of Rs.40,000.

The summarised balance sheets of kartik Ltd as at 31st March 2014 and 2015 are

Particulars	Note No.	31st March 2014 Amt(Rs.)	31st March 2015 Amt(Rs.)
I.Equity and liabilities
1.Shareholder's Funds
(a) Share Capital		4,50,000	4,50,000
(b) Reserves and Surplus	1	3,56,000	3,78,000
2. Non-current Liabilities
Mortgage Loan		---	2,70,000
3.Current Liabilities
(a) Trade Payables (Creditors)		1,68,000	1,34,000
(b) Short-term Provisions(Provision for taxation)		75,000	10,000
Total		10,49,000	12,42,000
II.Assets
1.Non-current Assets
(a) Fixed Assets (Tangible)		4,00,000	3,20,000
(b) Non-current Investments		50,000	60,000
2.Current Assets
(a) Inventories(Stock)		2,40,000	2,10,000
(b) Trade Receivables(Debtors)		2,10,000	4,55,000
(c) Cash and Cash Equivalents		1,49,000	1,97,000
Total		10,49,000	12,42,000

Notes to Accounts

Particulars	2014(Rs.)	2015(Rs.)
1.Reserves and Surplus	3,00,000	3,10,000
General Reserve	56,000	68,000
Balance in Statement of Profit and Loss	3,56,000	3,78,000

Additional Information(i) Investments costing Rs.8,000 were sold during the year 2014-15 for Rs.8,500.
(ii) Provision for taxation made during the year was Rs.9,000
(iii) During the year, part of the fixed assets costing Rs.10,000 was sold for Rs.12,000 and the profit was included in the statement of profit and loss.
(iv) Dividend paid during the year amounted to Rs.40,000.You are required to prepare the cash flow statement.

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