1

CASH FLOW STATEMENT

Question No 1

From the following Balance Sheets of Mr. Zen, prepare a Cash flow statement as per AS -3 for the year ended
31.3.2015:
Balance Sheets of Mr. Zen

Liabilities As on 1.4.2014 As on 1.4.2015

₹ ₹
Zen’s Capital A/c 10,00,000 12,24,000
Trade payables Mrs. 3,20,000 3,52,000
Zen’s loan Loan from 2,00,000 --
Bank 3,20,000 4,00,000
18,40,000 19,76,000
Assets As on 1.4.2014 As on 1.4.2015
₹ ₹
Land 6,00,000 8,80,000
Plant and MachineryInventories 6,40,000 4,40,000
Trade receivables 2,80,000 2,00,000
Cash 2,40,000 4,00,000
80,000 56,000
18,40,000 19,76,000

Additional information:
A machine costing ₹ 80,000 (accumulated depreciation there on ₹ 24,000) was sold for ₹ 40,000. The provision
for depreciation on 1.4.2014 was ₹ 2,00,000 and 31.3.2015 was ₹ 3,20,000. The net profit for the year ended on
31.3.2015 was ₹ 3,60,000.

Answer
Cash Flow Statement of Mr. Zen as per AS 3
for the year ended 31.3.2015

₹
(i) Cash flow from operating activities
Net Profit (given) 3,60,000
Adjustments for
Depreciation on Plant & Machinery 1,44,000
Loss on Sale of Machinery 16,000 1,60,000
Operating Profit before working capital changesDecrease in 5,20,000
inventories
80,000

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Increase in trade receivablesIncrease in (1,60,000)

trade payables 32,000 (48,000)
Net cash generated from operating activities 4,72,000
(ii) Cash flow from investing activities
Sale of MachineryPurchase 40,000
of Land
(2,80,000)
Net cash used in investing activities
(2,40,000)
(iii) Cash flow from financing activities
Repayment of Mrs. Zen’s Loan
(2,00,000)
Drawings
Loan from Bank (1,36,000)
Net cash used in financing activities 80,000
Net decrease in cash (2,56,000)
Opening balance as on 1.4.2014Cash (24,000)
balance as on 31.3.2015 80,000
56,000

WN -1 Plant & Machinery A/c

₹ ₹
To Balance b/d 8,40,000 By Cash – Sales 40,000
(6,40,000 + 2,00,000) By Provision for Depreciation A/c 24,000
By Profit & Loss A/c – Loss on 16,000
Sale (80,000 – 64,000)
By Balance c/d
(4,40,000+3,20,000) 7,60,000
8,40,000 8,40,000

WN-2 Provision for Depreciation on Plant and Machinery a/c

₹ ₹
To Plant and Machinery 24,000 By Balance b/d 2,00,000
To Balance c/d 3,20,000 By Profit & Loss A/c (Bal. fig.) 1,44,000
3,44,000 3,44,000

WN -3 Find out Mr. Zen’s drawings:

₹
Opening Capital 10,00,000
Add: Net Profit 3,60,000
13,60,000
Less: Closing Capital (12,24,000)

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Drawings 1,36,000

Question No 2

From the following details relating to the Accounts of Grow More Ltd. prepare Cash Flow Statement:
Liabilities 31.03.2015 (₹) 31.03.2014 (₹)
Share Capital 10,00,000 8,00,000
Reserve 2,00,000 1,50,000
Profit and Loss Account 1,00,000 60,000
Debentures 2,00,000 –
Provision for taxation 1,00,000 70,000
Dividend payable 2,00,000 1,00,000
Trade payables 7,00,000 8,20,000
25,00,000 20,00,000
Assets
Plant and Machinery 7,00,000 5,00,000
Land and Building 6,00,000 4,00,000
Investments of Ryan Ltd. 1,00,000 –
Trade receivables 5,00,000 7,00,000
Inventories 4,00,000 2,00,000
Cash on hand/Bank 2,00,000 2,00,000
25,00,000 20,00,000

(i) Depreciation @ 25% was charged on the opening value of Plant and Machinery.
(ii) At the year end, one old machine costing 50,000 (WDV 20,000) was sold for ₹ 35,000.
Purchase was also made at the year end.
(iii) ₹ 50,000 was paid towards Income tax during the year.
(iv) Building under construction was not subject to any depreciation.
Prepare Cash flow Statement.

Answer

Grow More Ltd

Cash Flow Statement

Cash Flow from Operating Activities

Increase in balance of Profit and Loss Account 40,000
Dividend payable 2,00,000
Provision for taxation 80,000
Transfer to General Reserve 50,000
Depreciation 1,25,000
Profit on sale of Plant and Machinery (15,000)

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Operating Profit before Working Capital changes 4,80,000

Increase in Inventories (2,00,000)
Decrease in Trade receivables 2,00,000
Decrease in Trade payables (1,20,000)
Cash generated from operations 3,60,000
Income tax paid (50,000)
Net Cash from operating activities 3,10,000

Cash Flow from Investing Activities

Purchase of fixed assets (3,45,000)
Expenses on building (2,00,000)
Increase in investments (1,00,000)
Sale of old machine 35,000
Net Cash used in investing activities (6,10,000)

Cash Flow from Financing activities

Proceeds from issue of shares 2,00,000
Proceeds from issue of debentures 2,00,000
Dividend paid (1,00,000)
Net cash used in financing activities 3,00,000
Net increase in cash or cash equivalents NIL
Cash and Cash equivalents at the beginning of the year 2,00,000
Cash and Cash equivalents at the end of the year 2,00,000

Provision for taxation account

₹ ₹
To Cash (Paid) 50,000 By Balance b/d 70,000
To Balance c/d 1,00,000 By Profit and Loss A/c 80,000
(Balancing figure)
1,50,000 1,50,000

Plant and Machinery account

₹ ₹
To Balance b/d 5,00,000 By Depreciation 1,25,000
To Profit and Loss A/c (profit on Sale 15000
of machine)
To Cash (Balancing figure) 3,45,000 By Cash (sale of machine) 35,000
By Balance c/d 7,00,000
8,60,000 8,60,000

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Question No 3 (Direct Method)

From the following information, calculate cash flow from operating activities:
Summary of Cash Account
for the year ended March 31, 2021
Particulars ₹ Particulars ₹
To Balance b/d 1,00,000 By Cash Purchases 1,20,000
To Cash sales 1,40,000 By Trade payables 1,57,000
To Trade receivables 1,75,000 By Office & Selling Expenses 75,000
To Trade Commission 50,000 By Income Tax 30,000
To Sale of Investment 30,000 By Investment 25,000
To Loan from Bank 1,00,000 By Repayment of Loan 75,000
To Interest & Dividend 1,000 By Interest on loan 10,000
By Balance c/d 1,04,000
5,96,000 5,96,000

Question No 4 (Direct Method)

The following summary cash account has been extracted from the company’s accounting
records:
Summary Cash Account
(₹ ’000)
Balance at 1.3.20X1 35
Receipts from customers 2,783
Issue of shares 300
Sale of fixed assets 128
2,047 3,246
Payments to suppliers
Payments for property, plant & equipment 230
Payments for overheads 115
Wages and salaries 69
Taxation 243
Dividends 80 (3,034)
Repayments of bank loan 250
Balance at 31.3.20X2 212
Prepare Cash Flow Statement of this company Hills Ltd. for the year ended 31st March, 20X2 in
accordance with AS-3 (Revised). The company does not have any cash equivalents.

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Question No 5 (Direct Method)

Prepare cash flow statement of M/s MNT Ltd. for the year ended 31st March, 2021 with the
help of the following information:

(1) Company sold goods for cash only.

(2) Gross Profit Ratio was 30% for the year, gross profit amounts to ₹ 3,82,500.

(3) Opening inventory was lesser than closing inventory by ₹ 35,000.

(4) Wages paid during the year ₹ 4,92,500.

(5) Office and selling expenses paid during the year ₹ 75,000.

(6) Dividend paid during the year ₹ 30,000.

(7) Bank loan repaid during the year ₹ 2,15,000 (included interest ₹ 15,000).

(8) Trade payables on 31st March, 2020 exceed the balance on 31st March, 2021 by
₹ 25,000.

(9) Amount paid to trade payables during the year ₹ 4,60,000.

(10) Tax paid during the year amounts to ₹ 65,000 (Provision for taxation as on
31.03.2021 ₹ 45,000).

(11) Investments of ₹ 7,00,000 sold during the year at a profit of ₹ 20,000.

(12) Depreciation on fixed assets amounts to ₹ 85,000.

(13) Plant and machinery purchased on 15th November, 2020 for ₹ 2,50,000.

(14) Cash and Cash Equivalents on 31st March, 2020 ₹ 2,00,000.

(15) Cash and Cash Equivalents on 31st March, 2021 ₹ 6,07,500

Solution
M/s MNT Ltd.
Cash Flow Statement for the year ended 31st March, 2021
(Using direct method)

Particulars ₹ ₹
Cash flows from Operating Activities

Cash sales (₹ 3,82,500/.30) 12,75,000

Less: Cash payments for trade payables (4,60,000)

Wages Paid (4,92,500)

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Office and selling expenses (75,000) (10,27,500)

Cash generated from operations before taxes 2,47,500

Income tax paid (65,000)

Net cash generated from operating activities (A) 1,82,500

Cash flows from investing activities

Sale of investments (7,00,000 + 20,000) 7,20,000

Payments for purchase of Plant & machinery (2,50,000)

Net cash used in investing activities (B) 4,70,000

Cash flows from financing activities

Bank loan repayment (including interest) (2,15,000)

Dividend paid (30,000)

Net cash used in financing activities (C) (2,45,000)

Net increase in cash (A+B+C) 4,07,500

Cash and cash equivalents at beginning of the period 2,00,000

Cash and cash equivalents at end of the period 6,07,500

Question No 6 (Direct Method)

From the following Summary Cash Account of X Ltd. prepare Cash Flow Statement for the
year ended 31st March, 20X1 in accordance with AS 3 (Revised) using the direct method.
The company does not have any cash equivalents.
Summary Cash Account for the year ended 31 3.2021
₹ ’000 ₹ ’000
Balance on 1.4.20X0 50 Payment to Suppliers 2,000
Issue of Equity Shares 300 Purchase of Fixed Asset 200
Receipts from Customers 2,800 Overhead expense 200
Sale of Fixed Assets 100 Wages and Salaries 100
Taxation 250
Dividend 50
Repayment of Bank Loan 300
Balance on 31.3.20X1 150
3,250 3,250

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Answer
X Ltd.
Cash Flow Statement for the year ended 31st March, 2021
(Using direct method)

₹ ’000 ₹ ’000
Cash flows from operating activities
Cash receipts from customers 2,800
Cash payments to suppliers (2,000)
Cash paid to employees (100)
Cash payments for overheads (200)
Cash generated from operations 500
Income tax paid (250)
Net cash generated from operating activities 250
Cash flows from investing activities
Payments for purchase of fixed assets (200)
Proceeds from sale of fixed assets 100
Net cash used in investing activities (100)
Cash flows from financing activities
Proceeds from issuance of equity shares 300
Bank loan repaid (300)
Dividend paid (50)
Net cash used in financing activities (50)
Net increase in cash 100
Cash at the beginning of the year 50
Cash at the end of the year 150

Question No 7

From the following Balance Sheet and information, prepare Cash Flow Statement of Ryan Ltd. for the
year ended 31st March, 2015:
Balance Sheet

31st March, 2015 31st March, 2014

₹ ₹
Liabilities
Equity Share Capital 6,00,000 5,00,000

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10% Redeemable Preference Share Capital – 2,00,000

Capital Redemption Reserve 1,00,000 –
Capital Reserve 1,00,000 –
General Reserve 1,00,000 2,50,000
Profit and Loss Account 70,000 50,000
9% Debentures 2,00,000 –
Trade payables 1,15,000 1,10,000

Liabilities for Expenses 30,000 20,000

Provision for Taxation 95,000 60,000
Dividend payable 90,000 60,000
15,00,000 12,50,000
31st March, 2015 31st March, 2014
₹ ₹
Assets
Land and Building 1,50,000 2,00,000
Plant and Machinery 7,65,000 5,00,000
Investments 50,000 80,000
Inventory 95,000 90,000

Trade receivables 2,50,000 2,25,000

Cash and Bank 65,000 90,000
Voluntary Separation Payments 1,25,000 65,000
15,00,000 12,50,000

Additional Information:
(i) A piece of land has been sold out for ₹ 1,50,000 (Cost – ₹ 1,20,000) and the balance land was
revalued. Capital Reserve consisted of profit on sale and profit on revaluation.
(ii) On 1st April, 2014 a plant was sold for ₹ 90,000 (Original Cost – ₹ 70,000 and W.D.V. –
₹ 50,000) and Debentures worth ₹ 1 lakh was issued at par as part consideration for plant of
₹ 4.5 lakhs acquired.
(iii) Part of the investments (Cost – ₹ 50,000) was sold for ₹ 70,000.
(iv) Pre-acquisition dividend received ₹ 5,000 was adjusted against cost of investment.
(v) Directors have declared 15% dividend for the current year.
(vi) Voluntary separation cost of ₹ 50,000 was adjusted against General Reserve.
(vii) Income-tax liability for the current year was estimated at ₹ 1,35,000.
(viii) Depreciation @ 15% has been written off from Plant account but no depreciation has been
charged on Land and Building.

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Question No 8

The Balance Sheet of New Light Ltd. for the years ended 31st March, 2014 and 2015 are as follows:

Liabilities 31st 31st Assets 31st 31st

March March March March
2014 2015 2014 2015
(₹ ) (₹ ) (₹ ) (₹ )
Equity share capital 12,00,000 16,00,000 Fixed Assets 32,00,000 38,00,000
10% Preference Less: Depreciation 9,20,000 11,60,000
share capital 4,00,000 2,80,000 22,80,000 26,40,000
Capital Reserve – 40,000 Investment 4,00,000 3,20,000
General Reserve 6,00,000 7,60,000 Cash 10,000 10,000
Profit and Loss A/c 2,40,000 3,00,000 Other current assets 11,10,000 13,10,000
9% Debentures 4,00,000 2,80,000
Current liabilities 4,80,000 5,20,000
Dividend payable 1,20,000 1,44,000
Provision for Tax 3,60,000 3,40,000
Unpaid dividend – 16,000
38,00,000 42,80,000 38,00,000 42,80,000

Additional information:
(i) The company sold one fixed asset for ₹ 1,00,000, the cost of which was ₹ 2,00,000 and thedepreciation provided on
it was ₹ 80,000.
(ii) The company also decided to write off another fixed asset costing ₹ 56,000 on which depreciation amounting
to ₹ 40,000 has been provided.
(iii) Depreciation on fixed assets provided ₹ 3,60,000.
(iv) Company sold some investment at a profit of ₹ 40,000, which was credited to capital reserve.
(v) Debentures and preference share capital redeemed at 5% premium.
(vi) Company decided to value inventory at cost, whereas previously the practice was to value inventory at cost less 10%.
The inventory according to books on 31.3.2014 was ₹ 2,16,000.The inventory on 31.3.2015 was correctly valued at ₹
3,00,000.
Prepare Cash Flow Statement as per revised Accounting Standard 3 by indirect method.

Question No 9

ABC Ltd. gives you the following information. You are required to prepare Cash Flow Statement by using
indirect methods as per AS 3 for the year ended 31.03.2015:

Balance Sheet as on
Liabilities 31st March 31st March Assets 31st March 31st March
2014 2015 2014 2015
₹ ₹ ₹ ₹

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Capital 50,00,000 50,00,000 Plant & Machinery 27,30,000 40,70,000

Retained Earnings 26,50,000 36,90,000 Less: Depreciation (6,10,000) (7,90,000)
Debentures ― 9,00,000 21,20,000 32,80,000
Current Liabilities Current Assets
Trade payables 8,80,000 8,20,000 Trade receivables 23,90,000 28,30,000
Bank Loan 1,50,000 3,00,000 Less: Provision (1,50,000) (1,90,000)
Liability for expenses 3,30,000 2,70,000 22,40,000 26,40,000
Dividend payable 1,50,000 3,00,000 Cash 15,20,000 18,20,000
Marketable
securities 11,80,000 15,00,000
Inventories 20,10,000 19,20,000
Prepaid Expenses 90,000 1,20,000
91,60,000 1,12,80,000 91,60,000 1,12,80,000

Additional Information:
(i) Net profit for the year ended 31st March, 2015, after charging depreciation ₹ 1,80,000 is
₹ 22,40,000.
(ii) Trade receivables of ₹ 2,30,000 were determined to be worthless and were written off against the provisions for
doubtful debts account during the year.
(iii) ABC Ltd. declared dividend of ₹ 12,00,000 for the year 2014-2015.

Question No 10
The following figures have been extracted from the books of X Limited for the year ended on31.3.2015. You are
required to prepare a cash flow statement.
(i) Net profit before taking into account income tax and income from law suits but aftertaking into account
the following items was ₹ 20 lakhs:
(a) Depreciation on Fixed Assets ₹ 5 lakhs.
(b) Discount on issue of Debentures written off ₹ 30,000.
(c) Interest on Debentures paid ₹ 3,50,000.
(d) Book value of investments ₹ 3 lakhs (Sale of Investments for ₹ 3,20,000).
(e) Interest received on investments ₹ 60,000.
(f) Compensation received ₹ 90,000 by the company in a suit filed.
(ii) Income tax paid during the year ₹ 10,50,000.
(iii) 15,000, 10% preference shares of ₹ 100 each were redeemed on 31.3.2015 at a premium of 5%. Further the company
issued 50,000 equity shares of ₹ 10 each at a premium of 20% on 2.4.2014. Dividend on preference shares were paid
at the time of redemption.
(iv) Dividend paid for the year 2013-2014 ₹ 5 lakhs and interim dividend paid ₹ 3 lakhs forthe year 2014-2015.
(v) Land was purchased on 2.4.2014 for ₹ 2,40,000 for which the company issued 20,000equity shares of ₹ 10
each at a premium of 20% to the land owner as consideration.

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(vi) Current assets and current liabilities in the beginning and at the end of the years were asdetailed below:
As on 31.3.2014 As on 31.3.2015
₹ ₹
Inventory 12,00,000 13,18,000
Trade receivables 258000 253100
Cash in hand 1,96,300 35,300
Trade payables 211000 211300
Outstanding expenses 75,000 81,800

Question No 11 (Direct Method)

Raj Ltd. gives you the following information for the year ended 31 st March, 2015:
(i) Sales for the year ₹ 48,00,000. The Company sold goods for cash only.
(ii) Cost of goods sold was 75% of sales.
(iii) Closing inventory was higher than opening inventory by ₹ 50,000.

A dditional information:-
(i) Trade payables on 31.3.2015 exceed the outstanding on 31.3.2014 by ₹ 1,00,000.
(ii) Tax paid during the year amounts to ₹ 1,50,000.
(iii) Amounts paid to Trade payables during the year ₹ 35,50,000.
(iv) Administrative and Selling expenses paid ₹ 3,60,000.

(v) One new machinery was acquired in December, 2014 for ₹ 6,00,000.
(vi) Dividend paid during the year ₹ 1,20,000.
(vii) Cash in hand and at Bank on 31.3.2015 ₹ 70,000.
(viii) Cash in hand and at Bank on 1.4.2014 ₹ 50,000.
Prepare Cash Flow Statement for the year ended 31.3.2015 as per the prescribed accounting
standard.

Question No 12

The following are the summarized Balance Sheets of ‘X’ Ltd. as on March 31, 2014 and 2015:
Liabilities As on As on
31.3.2014 (₹ ) 31.3.2015 ( ₹)
Equity share capital 15,00,000 16,50,000
Capital Reserve --- 10,000
General Reserve 2,50,000 3,00,000
Profit and Loss A/c 1,50,000 1,80,000

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Trade payables 5,00,000 4,00,000

Provision for Taxation 50,000 60,000
Dividend payable 1,00,000 1,25,000
25,50,000 27,25,000
Assets Year 2014 Year 2015
(₹ ) (₹ )
Land and Building 5,00,000 4,80,000
Machinery 7,50,000 9,20,000
Investment 1,00,000 50,000
Inventory 3,00,000 2,80,000
Trade receivables 4,00,000 4,20,000
Cash in Hand 2,00,000 1,65,000
Cash at Bank 3,00,000 4,10,000
25,50,000 27,25,000

Additional Information:
(i) Dividend of ₹ 1,00,000 was paid during the year ended March 31, 2015.
(ii) Machinery during the year purchased for ₹ 1,25,000.
(iii) Machinery of another company was purchased for a consideration of ₹ 1,00,000 payable in
equity shares.
(iv) Income-tax provided during the year ₹ 55,000.
(v) Company sold some investment at a profit of ₹ 10,000, which was credited to Capital reserve.
(vi) There was no sale of machinery during the year.
(vii) Depreciation written off on Land and Building ₹ 20,000.
From the above particulars, prepare a cash flow statement for the year ended March, 2015 as
per AS 3 (Indirect method).

Question No 13
Question 11 PM
Question No 14
The Balance Sheets of X Ltd. as on 31st March, 2014 and 31st March, 2015 are as follows:
Liabilities 2014 2015 Assets 2014 2015
Amount (₹ ) Amount (₹) Amount (₹ ) Amount (₹ )

Share Capital 5,00,000 7,00,000 Land and Buildings 80,000 1,20,000

General Reserve 50,000 70,000 Plant and Machinery 5,00,000 8,00,000
Profit and Loss A/c 1,00,000 1,60,000 Inventory 1,00,000 75,000
Trade payables 1,93,000 240,000 Trade receivables 1,50,000 1,60,000
Cash 20,000 20,000

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Outstanding Expenses 7,000 5,000

8,50,000 11,75,000 8,50,000 11,75,000

Additional Information :
(a) ₹ 50,000 depreciation has been charged to Plant and Machinery during the year 2015.
(b) A piece of Machinery costing ₹ 12,000 (Depreciation provided there on ₹ 7,000) was sold at60%
profit on book value.
You are required to prepare Cash flow statement for the year ended 31 st March 2015 as per AS 3
(revised), using indirect method.

Question No 15
The following are the summarized Balance Sheet of Star Ltd. as on 31st March, 2014 and 2015:
( ₹ ’000)
2014 2015
Equity share capital of ₹ 10 each 3,400 3,800
Profit and Loss A/c 400 540
Securities Premium 40 80
14% Debentures 800 900
Long term borrowings 180 240
Trade payables 360 440
Provision for Taxation 20 40
Dividend payable 300 480
5,500 6,520
Sundry Fixed Assets:
Gross Block 3,200 4,000
Less: Depreciation (640) (1,440)
Net Block 2,560 2,560
Investment 1,200 1,400
Inventories 1,000 1,400
Trade receivables 640 900
Cash and Bank Balance 100 260
5,500 6,520
The Profit and Loss account for the year ended 31st March, 2015 disclosed:
( ₹ ’000)
Profit before tax 780
Less: Taxation (160)
Profit after tax 620
Less: Dividend payable (480)
Retained Profit 140

The following information are also available:

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(1) 40,000 equity shares issued at a premium of ₹ 1 per share.

(2) The Company paid taxes of ₹ 1,40,000 for the year 2014-15.
(3) During the period, it discarded fixed assets costing ₹ 4 lacs, (accumulated depreciation
₹ 80,000) at ₹ 40,000 only.
You are required to prepare a cash flow statement as per AS 3 (Revised), using indirect method.

Question No 16

On the basis of the following information prepare a Cash Flow Statement for the year
ended 31 st March, 2015:
(i) Total sales for the year were ₹ 199 crore out of which cash sales amounted to
₹ 131 crore.
(ii) Cash collections from credit customers during the year, totalled ₹ 67 crore.
(iii) Cash paid to suppliers of goods and services and to the employees of the enterpr ise amounted to ₹
159 crore.
(iv) Fully paid preference shares of the face value of ₹ 16 crore were redeemed and equityshares
of the face value of ₹ 16 crore were allotted as fully paid up at a premium of 25%.
(v) ₹ 13 crore were paid by way of income tax.
(vi) Machine of the book value of ₹ 21 crore was sold at a loss of ₹ 30 lakhs and a new
machine was installed at a total cost of ₹ 40 crore.
(vii) Debenture interest amounting ₹ 1 crore was paid.
(viii) Dividends totalling ₹ 11.7 crore (including CDT) was paid on equity and preference shares.

(ix) On 31 st March, 2012 balance with bank and cash on hand totalled ₹ 9 crore.

Question No 17
Question 15 PM

Question No 18
Question 16 PM

Question No 19
Question 17 PM

Question No 20

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Question No 21

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