THE FOLLOWING INFORMATION WAS OBTAINED FROM THE BOOKS OF CXY COMPANY I. AUTHORIZED SHARE CAPITAL $650000...
THE FOLLOWING INFORMATION WAS OBTAINED FROM THE BOOKS OF CXY COMPANY
I. AUTHORIZED SHARE CAPITAL $650000
II.$400,000 $1 ORDINARY SHARES FULLY PAID
III.$100,000 AT 8% PREFERENCE SHARES FULLY PAID
IV.THE PROFIT AND LOSS FOR 2008 WAS $65000 WHILE RETAINED PROFIT FOR 2007 WAS $20,000
THE COMPANY DIRECTOR HAVE PROPOSED THE FOLLOWING:
1.PAY THE PREFERENCE SHARE DIVIDENDS
2.PAY AN ORDINARY DIVIDENDS OF 7.5%
3.TRANSFER $15000 TO THE GENERAL RESERVE
4.CREATE A FIXED ASSETS REPLACEMENT RESERVED OF 20000
REQUIRED:PROFIT AND LOSS APPROPRIATION ACCOUNT FOR 2008
Homework Answers
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THE FOLLOWING INFORMATION WAS OBTAINED FROM THE BOOKS OF CXY
COMPANY
I. AUTHORIZED SHARE CAPITAL $650000...
QUESTION ONE Masaba Company Ltd. is a retail provider with an authorised share capital of 800,000...
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10% preference shares, cumulative and participating, P250 par, authorized shares, 20,000 shares i...
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Exercise 11.6 Preference share Alternatives L.O. 5, 6 Walker Limited has the following capital structure: Preference...
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The following is an extract from the books of Freight Express Company Ltd taken on 31...
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Part 2 (32 Marks) These balances were extracted from the books of Tembo Ltd as at 31 January 2018...
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• Prepare the general journal entries to record the above independent scenarios. • Narrations to general journal entries must be provided. • Complete and detailed workings/calculations must be shown....
• Prepare the general journal entries to record the above
independent scenarios.
• Narrations to general journal entries must be provided.
• Complete and detailed workings/calculations must be shown.
• Absence of workings/calculations may lead to zero marks
allocated to the particular general journal entry, despite the fact
that the entry might be correct!
PLEASE answer scenario5 to 7 thank you very much
The directors issued a prospectus offering 40,000 ordinary shares at an issue price of $2.80, payable $2...
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Part 2 (32 Marks) hese balances were extracted from the books of Tembo Ltd as at 31 January 2018:...
Part 2 (32 Marks) hese balances were extracted from the books of Tembo Ltd as at 31 January 2018: Debit Credit 12,994,000.00 Retained eamings (31 January 2018) Interest payable Long term loan Application and alotment Shareholders for ordinary dividends Stated share capital ( 2 000 000 ordinary shares) Preference share capital and shareholders for preference dividends are not known 175,312.50 2.250,000.00 2,691,000.00 30,00000 4,000,000.00 Additional information On 28 February 2018 Tembo Ltd issued 877 000 ordinary shares and applications worth...
Exercise 11.6 Preference share Alternatives L.O. 5, 6 Walker Limited has the following capital structure: Preference shares— $25 par value, 10,000 shares authorized, 8,900 shares issued and outstanding Ordinary shares— 510 par value, 100,000 shares authorized 80,000 shares issue and outstanding $ 222,500 800,000 Total issued and fully paid capital Retained earnings $1,022,500 550,000 Total shareholders' equity $1,572,500 The number of issued and outstanding shares of both preference and ordinary shares have been the same for the last two years....
Part 2 (32 Marks) These balances were extracted from the books of Tembo Ltd as at 31 January 2018 Debit Credit Retained eamings (31 January 2018) Interest payable Long term loan Application and allotment Shareholders for ordinary dividends Stated share capital (2 000 000 ordinary shares Preference share capital and shareholders for preference dividends are not known 12,994,000.00 175,312.50 2,250,000.00 2,691,000.00 30,000.00 4,000,000.00 Additional information On 28 February 2018 Tembo Ltd issued 877 000 ordinary shares and applications worth NS...
• Prepare the general journal entries to record the above
independent scenarios.
• Narrations to general journal entries must be provided.
• Complete and detailed workings/calculations must be shown.
• Absence of workings/calculations may lead to zero marks
allocated to the particular general journal entry, despite the fact
that the entry might be correct!
PLEASE answer scenario5 to 7 thank you very much
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