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Published on: 31/07/2018
From the chapter Cash Flow Statement, some of the important questions are covered in this question paper. The questions are covers from the book back and the previous year questions.
Download CBSE Class 12th Standard CBSE Accountancy question papers, sample papers, important questions, and previous year solved papers in PDF format. Get free study materials, NCERT solutions, and exam preparation resources for Class 12th Standard CBSE Accountancy
Questions + Answers key
Take MCQ Accountancy Test
1.
Following particulars are extracted from notes to accounts to the Balance Sheets of Vijaya Ltd. as on 31-03-2011 and 31-03-2015. Prepare a Cash Flow Statement.
| Particulars |
Note No. |
31.03.2015 Rs. |
31.03.2014 Rs. |
|
|---|---|---|---|---|
| I. Equity and liabilities | ||||
| Share Capital | 1,30,000 | 90,000 | ||
| Surplus in Statement of Profit and Loss | 29,000 | 18,000 | ||
| General Reserve | 55,000 | 30,000 | ||
| Trade Payables | 22,000 | 17,400 | ||
| Total | 2,36,000 | 1,55,400 | ||
| II. Assets | ||||
| Fixed Assets - Tangible | 1,66,000 | 93,400 | ||
| Inventories | 26,000 | 22,000 | ||
| Trade Receivables | 39,000 | 36,000 | ||
| Cash and Cash Equivalents | 5,000 | 4,000 | ||
| Total | 2,36,000 | 1,55, | ||
Note : Bracket denotes minus items.
Additional Information :
(i) Depreciation charged on fixed tangible assets for the year 2014-2015 was Rs. 20,000.
(ii) Income Tax Rs. 5,000 has been paid in advance during the year.
2.
Following are the Balance Sheets of Sewak Ltd. as on 31.03.2014 and 31.03.2015 :
| Particulars |
Note No. |
31.03.2015 Rs. |
31.03.2014 Rs. |
|
|---|---|---|---|---|
| I. Equity and liabilities | ||||
| Shareholder's Funds : | ||||
| (a) Share Capital | 7,00,000 | 4,00,000 | ||
| (b) Reseves and Surplus (Balance in Statement of Profit and loss) | (3,20,000) | (50,000) | ||
| (c) Long-term Borrowings (9% Debentures) | 4,00,000 | 2,00,000 | ||
| Current Liabilities : | ||||
| (a) Trade Payables | 1,50,000 | 1,10,000 | ||
| (b) Other Current Liabilities (Outstanding Expenses) | 20,000 | 10,000 | ||
| Total | 9,50,000 | 6,70,000 | ||
| II. Assets | 5,00,000 | 3,00,000 | ||
| Non-Current Assets : | ||||
| (a) Fixed Assets-Tangible | 50,000 | 3,00,000 | ||
| (b) Non-current Investments | 1,40,000 | 2,00,000 | ||
| Currrent Assets : | ||||
| (a) Inventories | 1,00,000 | 50,000 | ||
| (b) Trade Receivables | 1,70,000 | 1,00,000 | ||
| (c) Cash and Cash Equivalents | 40,000 | 20,000 | ||
| Total | 9,50,000 | 6,70,000 | ||
Note : Bracket denotes minus item.
Additional Information :
Include in the fixed tangible assets was a piece of machinery costing Rs. 70,000 on which depreciation charged was Rs. 40,000 and it was sold for Rs. 30,000. During the year, Rs. 1,40,000 depreciation was charged on fixed tangible assets. Prepare Cash Flow Statement.
3.
State the purpose of preparing a 'cash flow statement'.
4.
Dividend paid by a manufacturing company is classified under which kind of activity while preparing cash flow statement?
5.
Give an example of the activity which remains financing activity for every enterprise.
6.
Dividend received by a finance company will come under which activity while preparing a cash flow statement?
7.
Under which type of activity will you classify 'commission and royalty received' while preparing cash flow statement?
8.
State whether conversion of debentures into equity shares by a financing company will result in inflow, outflow or no flow of cash.
9.
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.
10.
Calculate cash flow from operating activities from the following information.
| Particulars | Amt(Rs.) |
|---|---|
| Net Profit (After provision for tax Rs.6,12,000) | 28,12,000 |
| Proposed Dividend | 4,84,000 |
| Above Net Profit is Determined after Following Credits and Debits | |
| Credits | |
| (i) Profit on Sale of Machinery | 70,000 |
| (ii) Dividend Received on Investments | 60,000 |
| Debits | |
| (i) Depreciation | 5,60,000 |
| (ii) Loss on Sale of Investments | 1,20,000 |
| Decrease or Increase in Current Assets and Current Liabilities is as follows | |
| Decrease in Current Assets (Other than cash and cash equivalents) | 40,000 |
| Increase in Current Liabilities | 6,04,000 |
| Increase in Current Assets (Other than cash and cash equivalents) | 12,00,000 |
| Decrease in Current Liabilities | 2,56,000 |
| Other Information | |
| Income Tax Paid | 4,72,000 |
| Refund of Income Tax Received | 12,000 |
1.
Net Cash from Operation Activities Rs. 53,600; Net Cash used in Investing Activities (Rs. 92,600); Net Cash from Finacing Activities Rs. 40,000.
[Hint. Purchase of fixed tangible assets Rs. 92,600].
2.
Net Cash used in Operating Activities (Rs. 1,82,000), Net Cash used in Investing Activities (Rs, 2,80,000); Net Cash flow from Financing Activities Rs. 4,82,000.
[Hint. (i) In the absence of information, interest on debentures may be calculated either on opening balance or closing balance
(ii) Purchase of fixed tangible assets Rs. 3,70,000].
3.
The purposes of preparing a cash flow statement are:
(i) To ascertain the specific sources (i.e. operating/investing/financing activities) from which cash and cash equivalents are generated by an enterprise.
(ii) To ascertain the specific uses (i.e operating/investing/financing activities) for which cash and cash equivalents are used by an enterprise.
(iii) To ascertain the net change in cash and cash equivalents indicating the difference between sources and uses from or by three activities between the dates of two subsequent years of balance sheets.
4.
Dividend paid by a manufacturing company is classified as cash used (outflow) in financing activities.
5.
Dividend paid
6.
Operating activities.
7.
Commission and royalty received is an operating activity
8.
No flow of cash.
9.
Cash used in operating activities = Rs.(1,84,500); cash flow from financing activities=Rs.2,30,000;
Cash flow from investing activities=Rs.2,500
10.
Cash Flow from Operating Activities
| Particulars | Amt(Rs.) | |
|---|---|---|
| Net Profit after Tax | 28,12,000 | |
| (+) Provision for Tax (Net of refund)(Rs.6,12,000-Rs.12,000) | 6,00,000 | |
| Net Profit before Tax and Extraordinary Items | 34,12,000 | |
| Adjustments for | ||
| (+) Depreciation | 5,60,000 | |
| Loss on Sale of Investments | 1,20,000 | |
| (-) Profit on Sale of Machinery | (70,000) | |
| Dividend Received on Investments | (60,000) | 5,50,000 |
| Net Profit before Working Capital Changes | 39,62,000 | |
| (+) Decrease in Current Assets | 40,000 | |
| Increase in Current Liabilities | 6,04,000 | 6,44,000 |
| 46,06,000 | ||
| (-) Increase in Current Assets | (12,00,000) | |
| Decrease in Current Liabilities | (2,56,000) | (14,56,000) |
| Cash Flow from Operating Activities before Tax and Extraordinary Items | 31,50,000 | |
| (-) Income Tax Paid (Net of refund) (Rs.4,72,000-Rs.12,000) | (4,60,000) | |
| Cash Flow from Operating Activities | 26,90,000 | |
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