LS2518: You are required to prepare a statement of source and uses of funds from the Balance Sheet of Alpha Company Ltd. as on 31st December, 2001 and 31st December, 2002 and the Profit and Loss Account for the year ended on 31st December 2002.

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Question: You are required to prepare a statement of source and uses of funds from the Balance Sheet of Alpha Company Ltd. as on 31st December, 2001 and 31st December, 2002 and the Profit and Loss Account for the year ended on 31st December 2002.

Book Balance Sheet

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Profit and Loss Account for the year ended 31-12-2002

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Additional Information:

(i) During the year, plant costing Rs. 50,000 (accumulated depreciation Rs.20,000) was sold.

(ii) Debentures of the face value of Rs.30,000 were converted into shares at par.

(iii) Company paid dividend of Rs. 40,000 and issued Bonus shares of Rs.20,000 during the year.

(iv) Company further issued 5000 shares of Rs.10 each at a premium of Rs.l per share during the year.

 


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