Beloved Finance Ltd. is a financial enterprise which is in the business of lending loan to small businesses and earn interest on loans. During the…
CA Intermediate · Advanced Accounting · MTP · May 2024
Beloved Finance Ltd. is a financial enterprise which is in the business of lending loan to small businesses and earn interest on loans. During the year the Company has lend 50 crores and earned - 1.5 crore as interest on loans.The Company had surplus funds during the year and invested then in Fixed Deposits with bank and earned interest on fixed deposits of 20lacs.The Company also acquired a gold loan unit for 10 crore during the year and the Company provided interest free loan of 15 crore to its wholly-owned subsidiary.The Company paid a total income tax of 75lacs for the year. Based on the above information, answer the following questions.
Suggested Answer and Working Notes:
Correct Answer: Option (A)
Cash Flow from Operating Activities
Topics: Preparation of Financial Statements
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