Question

In: Accounting

Summary Balance sheet of Kishore Food Products Private Limited is given. You are required to prepare...

Summary Balance sheet of Kishore Food Products Private Limited is given.

You are required to prepare the cash flow statement using the indirect method after considering the additional information given below.

Depreciation provided for the year was land and building 60000, Machinery 50000 and furniture 1200.

Previous year tax provision was paid during the year and current year tax provision 40500 was yet to be paid at the year end.

Proposed dividend of previous year was paid during the year and fresh provision was made at this year end.  

Summary Balance sheet

Particulars

31-03-2019

31-03-2020

Liabilities

Equity Share capital

300000

350000

Share premium

0

30000

General Reserve

45000

65000

Profit and Loss

30000

80800

6% Debentures

0

70000

Sundry Creditors

85000

90700

Tax provision

22500

40500

Proposed Dividend

30000

35000

512500

762000

Assets

Land and Building

230000

390000

Machinery

85400

140000

Furniture

5500

6500

Stock

82400

95700

Debtors

75000

85500

Bank balance

34200

44300

512500

762000

Solutions

Expert Solution

ekkarill92 answered 2 hours ago
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