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Following are the Balance Sheets of a public company as on 31st December, 2014 and 2015. 2014 2015 I. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital : Paid-up Equity Share Capital (b) Reserves and Surplus : Surplus Account (2) Non-current Liabilities 15% Debentures (3) Current Liabi'ities Creditors 2,40,000 3,00,000 14,200 16,200 72,000 66,000 Bills Payable Outstanding Liabilities for Compensation Provision for Taxation Proposed Dividend 36,000 42,000 75,000 42,000 21,000 40,800 65,200 34,800 58,000 30,000 Total Equity and Liabilities 5,67,200 5,86,000 п. Assets (1) Non-current Assets Fixed Assets Less : Accumulated Depreciation 2,46,000 66,000 2,40,000 90,000 Intangible Asset : Goodwill 1,80,000 40,000 1,50,000 30,000 (2) Current Assets Short-term Investment Stock Sundry Debtors Bank 1,20,000 60,000 1,20,000 47,200 1,40,000 70,000 1,44,000 52,000 Total Assets 5,67,200 5,86,000 Additional Information: Provision for taxation $ 38,000 was made during the year 2015. (Treat Provision for Taxation and Proposed Dividend as non-current liabilities). Interim dividend of $ 20,000 was paid during the year. A part of the fixed assets was sold for $ 8,000 during the year 2015. It had costed $ 21,000 depreciation $ 16,000 has been provided on it. Debentures of $ 6,000 were redeemed during 2015 at a premium of 10%. From the above (I) prepare a Schedule of Changes in Working Capital, and (11) Statement showing Sources and Uses of Funds. (1) (II) (I) (IV)

Following are the Balance Sheets of a public company as on 31st December, 2014 and 2015. 2014 2015 I. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital : Paid-up Equity Share Capital (b) Reserves and Surplus : Surplus Account (2) Non-current Liabilities 15% Debentures (3) Current Liabi'ities Creditors 2,40,000 3,00,000 14,200 16,200 72,000 66,000 Bills Payable Outstanding Liabilities for Compensation Provision for Taxation Proposed Dividend 36,000 42,000 75,000 42,000 21,000 40,800 65,200 34,800 58,000 30,000 Total Equity and Liabilities 5,67,200 5,86,000 п. Assets (1) Non-current Assets Fixed Assets Less : Accumulated Depreciation 2,46,000 66,000 2,40,000 90,000 Intangible Asset : Goodwill 1,80,000 40,000 1,50,000 30,000 (2) Current Assets Short-term Investment Stock Sundry Debtors Bank 1,20,000 60,000 1,20,000 47,200 1,40,000 70,000 1,44,000 52,000 Total Assets 5,67,200 5,86,000 Additional Information: Provision for taxation $ 38,000 was made during the year 2015. (Treat Provision for Taxation and Proposed Dividend as non-current liabilities). Interim dividend of $ 20,000 was paid during the year. A part of the fixed assets was sold for $ 8,000 during the year 2015. It had costed $ 21,000 depreciation $ 16,000 has been provided on it. Debentures of $ 6,000 were redeemed during 2015 at a premium of 10%. From the above (I) prepare a Schedule of Changes in Working Capital, and (11) Statement showing Sources and Uses of Funds. (1) (II) (I) (IV)

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 15P: Included in the December 31, 2018, Jacobi Company balance sheet was the following shareholders...
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Following are the Balance Sheets of a public company as on 31st December, 2014 and 2015. 2015 2014 2$ I. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital : Paid-up Equity Share Capital (b) Reserves and Surplus : Surplus Account (2) Non-current Liabilities 15% Debentures (3) Current Liabi'ities Creditors 2,40,000 3,00,000 14,200 16,200 72,000 66,000 36,000 42,000 42,000 21,000 40,800 Bills Payable Outstanding Liabilities for Compensation Provision for Taxation Proposed Dividend 75,000 58,000 30,000 65,200 34,800 Total Equity and Liabilities 5,67,200 5,86,000 п. Assets (1) Non-current Assets 2,46,000 66,000 Fixed Assets Less : Accumulated Depreciation 2,40,000 90,000 1,80,000 Intangible Asset : Goodwill 1,50,000 30,000 40,000 (2) Current Assets Short-term Investment Stock 1,20,000 60,000 1,20,000 47,200 1,40,000 70,000 1,44,000 52,000 Sundry Debtors Bank Total Assets 5,67,200 5,86,000 Additional Information: (1) Provision for taxation $ 38,000 was made during the year 2015. (Treat Provision for Taxation and Proposed Dividend as non-current liabilities). Interim dividend of $ 20,000 was paid during the year. A part of the fixed assets was sold for $ 8,000 during the year 2015. It had costed $ 21,000 depreciation $ 16,000 has been provided on it. Debentures of $ 6,000 were redeemed during 2015 at a premium of 10%. From the above (I) prepare a Schedule of Changes in Working Capital, and (11) Statement showing Sources and Uses of Funds. (I1) (II) (IV)
Transcribed Image Text:Following are the Balance Sheets of a public company as on 31st December, 2014 and 2015. 2015 2014 2$ I. Equity and Liabilities (1) Shareholders' Funds (a) Share Capital : Paid-up Equity Share Capital (b) Reserves and Surplus : Surplus Account (2) Non-current Liabilities 15% Debentures (3) Current Liabi'ities Creditors 2,40,000 3,00,000 14,200 16,200 72,000 66,000 36,000 42,000 42,000 21,000 40,800 Bills Payable Outstanding Liabilities for Compensation Provision for Taxation Proposed Dividend 75,000 58,000 30,000 65,200 34,800 Total Equity and Liabilities 5,67,200 5,86,000 п. Assets (1) Non-current Assets 2,46,000 66,000 Fixed Assets Less : Accumulated Depreciation 2,40,000 90,000 1,80,000 Intangible Asset : Goodwill 1,50,000 30,000 40,000 (2) Current Assets Short-term Investment Stock 1,20,000 60,000 1,20,000 47,200 1,40,000 70,000 1,44,000 52,000 Sundry Debtors Bank Total Assets 5,67,200 5,86,000 Additional Information: (1) Provision for taxation $ 38,000 was made during the year 2015. (Treat Provision for Taxation and Proposed Dividend as non-current liabilities). Interim dividend of $ 20,000 was paid during the year. A part of the fixed assets was sold for $ 8,000 during the year 2015. It had costed $ 21,000 depreciation $ 16,000 has been provided on it. Debentures of $ 6,000 were redeemed during 2015 at a premium of 10%. From the above (I) prepare a Schedule of Changes in Working Capital, and (11) Statement showing Sources and Uses of Funds. (I1) (II) (IV)
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