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Please read the following instructions carefully before attempting Quiz This Assignment covers lesson no.
Please read the following instructions carefully before attempting Quiz
This Assignment covers lesson no.18
Last date for submission of Assignment # 2 is 31/5/2016
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The balance sheets of the Ahmed Fabrics Limited at the end of 2006 and 2007 are
Building and equipment
Allowance for deprecation---building and equipment
Liabilities & Capital
Capital stock, Rs.10 par
Retain earnings ( deficit)
Land was acquired for Rs. 35,000 in exchange for capital stock, par Rs. 35,000,
during the year; equipment of Rs. 15,000 was acquired for cash. Cash dividends
of Rs. 10,000 were charged to retained earnings during the year; the transfer of
net income (Rs. 27,500) to retained earnings was the only other entry in this
Prepare a statement of cash flow.