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M.458 An Aid to Accountancy—CBSE XII

Working Notes:
1. Total No. of Shares applied by an applicant who has not paid call money (Defaulter shareholder):
1,40,000 *
= × 600 = 1,400 Shares
60,000 *
*Category Shares Shares
Applied Allotted
Rejected 25,000 ...
(i) Raman 40,000 20,000
(ii) Akbar 20,000 20,000
(iii) Pro rata basis 1,40,000 60,000
2,25,000 1,00,000

`
2. Application money received from defaulter shareholder (1,400 × ` 3) 4,200
Less: Application money adjusted (600 × ` 3) 1,800
Surplus application money 2,400
Less: Surplus application money adjusted on allotment (600 × ` 2) 1,200
Surplus application money to be adjusted on first and final call 1,200
3. Calculation of call money not paid by defaulter shareholder:
First and final call money due (600 × ` 5) 3,000
Less: Surplus application money to be adjusted on first and final call (WN 2) 1,200
Amount due but not paid on first and final call 1,800
4. Calculation of call money received later:
Total call money due 5,00,000
Less: Surplus application money adjusted 1,40,000
3,60,000
Less: Amount due but not received (WN 3) 1,800
3,58,200

PART B

18. Cash Flow Statement is historical in nature because it is prepared on the basis of
financial statements, which are historical in nature.

19. CALCULATION OF CASH FLOW FROM FINANCING ACTIVITIES
Particulars `
Proceeds from Issue of Shares (Including Premium) 2,20,000
Interest paid on 10% Debentures (20,000)
Redemption of 10% Debentures (1,00,000)
Cash Flow from Financing Activities 1,00,000
20. (a)

Items Major Head Sub-head
(i) Goodwill Non-current Assets Fixed Assets—Intangible Assets
(ii) Debentures Non-current Liabilities Long-term Borrowings
(iii) Licences and Franchise Non-current Assets Fixed Assets—Intangible Assets