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12th | Cash Flow Statement | Question No. 5 To 8 | Ts Grewal Solution 2023-2024

Question 5:

Following are the extracts from the Balance Sheet of MAH Ltd. as at 31st March, 2023:
 

Particular

31st March

2023

(`)

31st March

2022

(`)

Surplus, i.e., Balance in Statement of Profit and Loss

10,00,000

5,00,000

Dividend Payable

50,000


Additional Information: Proposed Dividend for the years ended 31st March, 2022 and 2023 are  ` 4,00,000 and 
` 5,00,000 respectively.
Prepare the Note to show Net Profit before Tax and Extraordinary Items.

Answer:

 

Particulars

Amount

(`)

 

Profit as per Statement of Profit and Loss (10,00,000 – 5,00,000)

5,00,000

 

Add: Proposed Dividend (Current Year)

4,00,000

 

Profit Before Taxation and Extraordinary Items

9,00,000

 

 

Question 6:

Following is the extract from the Balance Sheet of Zee Ltd.:
 

Particular

31st March

2023

(`)

31st March

2022

(`)

Equity Share Capital

8,00,000

8,00,000

10% Preference Share Capital

6,00,000

6,00,000

Surplus i.e., Balance in Statement of Profit and Loss

7,20,000

4,00,000

Unpaid Dividend

20,000


Additional Information:
(i) Proposed dividend on equity shares for the year 2021-22 and 2022-23 are 
` 1,60,000 and  ` 2,00,000 respectively.
(ii) An Interim Dividend of
`40,000 on Equity Shares was paid.
Calculate Net Profit before Tax and Extraordinary Items.

Answer:

 

Particulars

Amount

(`)

 

Profit as per Statement of Profit and Loss (7,20,000 – 4,00,000)

3,20,000

 

Add: Proposed Dividend (Current Year)

1,60,000

 

Add: Proposed Preference Dividend (Current Year) 10% of 6,00,000

60,000

 

Add: Interim Dividend

40,000

 

Profit Before Taxation and Extraordinary Items

5,80,000

 

Question 7:

From the following extract of Balance Sheet of Universal Ltd, calculate Net Profit before Tax and Extraordinary items:

Equity and Liabilities

31st March, 2023 (`)

31st March, 2022 (`)

Equity Share Capital

10,00,000

10,00,000

10% Preference Share Capital

10,00,000

10,00,000

Surplus, i.e., Balance in Statement of Profit & Loss

15,00,000

10,00,000

Additional Information:

Interim Dividend of 2,00,000 was paid on Equity Shares on 1st November, 2022.

 

Answer:

 

Particulars

Amount

(`)

 

Profit as per Statement of Profit and Loss

(15,00,000 – 10,00,000)

5,00,000

 

Add:

 

 

Interim Dividend Paid on Equity Shares

2,00,000

 

Interim Dividend Paid on Preference Shares

(10% on 10,00.000)

1,00,000

 

Profit Before Taxation and Extraordinary Items

8,00,000

 

Question 8:

 

Calculate Net Profit before Tax and Extraordinary Items of Premier Sales Ltd. from its Balance Sheet as at 31st March, 2019:
 

Particulars ulars

Note No.

31st March, 2023

(`)

31st March, 2022

(`)

I. EQUITY AND LIABILITIES

 

 

 

1. Shareholders' Funds

 

 

 

(a) Share Capital

 

5,00,000

5,00,000

(b) Reserves and Surplus
(Surplus, i.e.,  Balance in Statement of Profit and Loss)

 

2,00,000

1,45,000

2. Current Liabilities

 

 

 

(a) Trade Payables

 

90,000

50,000

(b) Other Current Liabilities

 

20,000

10,000

(c) Short-term Provisions

1

50,000

30,000

Total      Total Expenses

 

8,60,000

7,35,000

II. ASSETS

 

 

 

1. Non-Current Assets

 

 

 

(a) Fixed Assets

 

4,50,000

4,00,000

(b) Non-Current Investments

 

50,000

1,50,000

2. Current Assets

 

2,60,000

1,85,000

Total

 

8,60,000

7,35,000

Notes to Accounts

Particulars

31st March, 2023

(`)

31st March, 2022

(`)

I. Short-term Provisions

 

 

Provision for Tax

50,000

30,000

 

 

 

 

Additional Information:

(i) Proposed Dividend for the years ended 31st March, 2022 and 2023 are  ` 50,000 and  ` 75,000 respectively.
(ii) Interim Dividend paid during the year was  ` 10,000.

Answer:

 

Particulars

Amount

(`)

 

Profit as per Statement of Profit and Loss (2,00,000 – 1,45,000)

55,000

 

Add: Proposed Dividend (Current Year)

50,000

 

  Add: Provision for Taxation (Current Year)

50,000

 

Add: Interim Dividend Paid

10,000

 

Profit Before Taxation and Extraordinary Items

1,65,000

 

Ts Grewal Solution 2023-2024

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Class 12 / Volume – II

Chapter 4 – Cash Flow Statement

Question No. 1 To 4

Question No. 5 To 8

Question No. 9 To 12

Question No. 13 To 16

Question No. 17 To 20

Question No. 21 To 24

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