The following summary cash account has been extracted from the Nextspace Limited's accounting records: ₹ Cash Balance as on 01-04-2023 72,000 Cash…

CA Intermediate · Advanced Accounting · PYQS · January 2025
The following summary cash account has been extracted from the Nextspace Limited's accounting records: ₹ Cash Balance as on 01-04-2023 72,000 Cash Sales 15,56,000 Trade Receivable 7,40,000 Rent from Property held as investment 64,000 Income tax refund 25,000 Loan from Bank 5,00,000 Issue of Shares 2,50,000 Sale of Investment 49,500 31,84,500 Outflow of Cash Trade Payable 19,60,000 Office and Selling Exp. 1,20,000 Trade Commission 40,500 Underwriting Commission 25,000 Redemption of Preference shares 8,00,000 Brokerage on Sale of Investment 9,200 Interest on long term borrowings 85,600 Payment for Overheads 46,000 Purchases of Goodwill 50,000 (31,36,300) Balance as on 31-03-24 1,20,200 Based on the information given in above Case Scenario, answer the following Question No. 11-14
(A) ₹ 1,29,500
(B) ₹ 1,54,500
(C) ₹ 1,45,300
(D) ₹ 4,04,000

Suggested Answer and Working Notes:

Correct Answer: Option (B)

₹ 1,54,500

Topics: AS 3

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