The document contains balance sheets, income statements, and cash flow statements for Western Telecommunication Company for the year ending March 31, 20X8. It shows the company's assets, liabilities, equity, revenues, expenses, and cash flows from operating, investing and financing activities for the year.
The document contains balance sheets, income statements, and cash flow statements for Western Telecommunication Company for the year ending March 31, 20X8. It shows the company's assets, liabilities, equity, revenues, expenses, and cash flows from operating, investing and financing activities for the year.
The document contains balance sheets, income statements, and cash flow statements for Western Telecommunication Company for the year ending March 31, 20X8. It shows the company's assets, liabilities, equity, revenues, expenses, and cash flows from operating, investing and financing activities for the year.
The document contains balance sheets, income statements, and cash flow statements for Western Telecommunication Company for the year ending March 31, 20X8. It shows the company's assets, liabilities, equity, revenues, expenses, and cash flows from operating, investing and financing activities for the year.
Additional information: 1. Purchased equipment for cash, `150,000. 150000 2. Sold equipment for cash, '10,000 (cost, 45,000; accumulated depreciation, '32,000). 10000 3. Purchased investments for cash, `30,000. 30000 4. Sold investments for cash, '85,000 (cost, `78,000). 85000 5. Purchased equipment in exchange for debentures, `75,000. 6. Issued shares for cash, '50,000. 50000 7. Converted debentures into equity shares, '20,000. 8. Redeemed debentures, `25,000. 25000 9. Wrote off 14,000 of trade receivables and recognized bad debt expense of `10,000, included in selling and administrative expenses. 14000 WESTERN TELECOMMUNICATION COMPANY Statement of Profit and Loss For the year ended March 31, 20X8 Revenue Sales............. ₹ 570,000 Interest income... ₹ 2,000 Gain on sale of investments. ₹ 7,000 Total income........ ₹ 579,000 Expenses Cost of goods sold... ₹ 445,000 Depreciation expense.. ₹ 89,000 Selling and administrative expenses... ₹ 46,000 Finance costs... ₹ 14,000 Loss on sale of equipment. ₹ 3,000 Total expenses..... ₹ 597,000 Profit before tax. -₹ 18,000 Tax expense.... ₹0 Profit for the period.... -₹ 18,000 Cash Flow Statement for WESTERN TELECOMMUNICATION COMPANY March 31 20X8 Cash Flow from Operating Activities - + Net Loss after Tax ₹ 18,000 Non-Cash items Depriciations ₹ 89,000 Provision for bad debt ₹ 10,000 Adjust Non Operating Items Interest Income ₹ 2,000 Loss on sale of equipment ₹ 3,000 Gain on sale of investments ₹ 7,000 Finance cost ₹ 14,000 Adjust for working capitals Inventories - Current Asset (from B/S) ₹ 32,000 Debtors - Account receivable (from B/S) ₹ 127,000 Other Current Asset (from B/S) ₹ 4,000 Bills Payable - Current Liability (from B/S) Trade Payable - Current Liability (from B/S) ₹ 157,000 Income tax ₹ 8,000 Cash Flow from Investing Activities - + Plant & Machinary purchase ₹ 150,000 Proceeds from Sale of Plant & Machinery ₹ 10,000 Purchased Investment ₹ 30,000 Proceeds from Sale of Investments ₹ 85,000 Interest Received ₹ 2,000 Cash Flow from Financing Activities - + Proceeds from issue of shares ₹ 50,000 Paid dividends Repaid unsecure loans Redeemed debentures ₹ 25,000 Interest Paid ₹ 14,000 ₹ 447,000 ₹ 390,000 ₹ 57,000 Cash & Cash Equivalents (from B/S) ₹ 57,000
