FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Financial Transaction Analysis
The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business…
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9. Balance sheet of XYZ is as follows: I. Equity and Liabilities Share Capital Debentures Sundry Creditors Provision for doubtful debts P & L A/c Total 2021 (Rs.) 7000 1200 1036 70 1004 10310 2022 (Rs.) 7400 600 1184 80 1056 10320
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Transcribed Image Text:9. Balance sheet of XYZ is as follows: I. Equity and Liabilities Share Capital Debentures Sundry Creditors Provision for doubtful debts P & L A/c Total 2021 (Rs.) 7000 1200 1036 70 1004 10310 2022 (Rs.) 7400 600 1184 80 1056 10320
II. Assets Cash Sundry Debtors Stock Land Goodwill Total Additional Information : 900 1490 4920 2000 1000 10310 780 1770 4270 3000 500 10320 (i) Dividend totaling Rs. 350 was paid. (ii) Land was purchased for Rs. 1000 and amount provided for the amortization of goodwill totaled Rs. 500. (iii) Debentures of Rs. 600 were redeemed. Prepare a Cash flow statement. [Ans. Cash from operations Rs. 1430; Net Decrease in cash Rs. 120] [Hint : Provision for doubtful debts has been added back to profit to calculate cash from operations]
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Transcribed Image Text:II. Assets Cash Sundry Debtors Stock Land Goodwill Total Additional Information : 900 1490 4920 2000 1000 10310 780 1770 4270 3000 500 10320 (i) Dividend totaling Rs. 350 was paid. (ii) Land was purchased for Rs. 1000 and amount provided for the amortization of goodwill totaled Rs. 500. (iii) Debentures of Rs. 600 were redeemed. Prepare a Cash flow statement. [Ans. Cash from operations Rs. 1430; Net Decrease in cash Rs. 120] [Hint : Provision for doubtful debts has been added back to profit to calculate cash from operations]
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