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3.26 Management Accounting (Section B)—ISC XII

3. Following is the Balance Sheet of Gupta & Co. Ltd., prepare Cash Flow Statement:
Particulars Note No. 31st March, 31st March,
2019 (`) 2018 (`)
I. EQUITY AND LIABILITIES
1. Shareholders’ Funds
(a) Share Capital 2,50,000 2,00,000
(b) Reserves and Surplus 23,000 10,000
2. Current Liabilities
Trade Payables 45,000 70,000
Total 3,18,000 2,80,000
II. ASSETS
1. Current Assets
(a) Current Investments 1 66,000 50,000
(b) Inventories 90,000 80,000
(c) Trade Receivables 1,15,000 1,20,000
(d) Cash and Bank Balances 47,000 30,000
Total 3,18,000 2,80,000

Note to Accounts
Particulars 31st March, 31st March,
2019 (`) 2018 (`)
1. Current Investments
Short-term Investments 16,000 10,000
Others 50,000 40,000
66,000 50,000

4. Harrington Gardens Ltd. commenced its business on 1st April, 2018. Its Balance Sheet as at 31st March,
2019 was as follows:
Particulars Note No. 31st March,
2019 (`)
I. EQUITY AND LIABILITIES
1. Shareholders’ Funds
(a) Equity Share Capital 15,00,000
(b) Reserves and Surplus 1 2,50,000
2. Current Liabilities
(a) Short-term Borrowings (Bank Overdraft) 1,00,000
(b) Trade Payables 2,00,000
Total 20,50,000
II. ASSETS
1. Non-Current Assets
(a) Fixed Assets 14,50,000
(b) Non-Current Investments 4,75,000
2. Current Assets
Cash and Bank Balances 1,25,000
Total 20,50,000