Following are the Balance Sheets of Quick Gains Ltd. Notes: Addit… - Vidyadip

Question

Following are the Balance Sheets of Quick Gains Ltd.

Notes:

Additional Information:

1.	Contingent Liability	31st March, 2018	31st March, 2017
		₹	₹
	Proposed Dividend	28,000	20,000
2.	Interest paid on long-term borrowings amounted to ₹ 8,000.

You are required to prepare a Cash-Flow Statement.

✓

Answer

Notes:

Calculation of Net Profit before Tax:	₹
Reserve & Surplus Balance on 31st March, 2018	1,25,000
Less: Reserve & Surplus Balance on 3 l st March, 2017	(20,000)
	1,05,000
Add: Proposed Dividend for Previous year	20,000
Provision for Tax made during the Current year	15,000
Net Profit before Tax	1,40,000

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