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2nd Term - AY 2017-2018
2nd Term - AY 2017-2018
Problem 6
Retained earnings after redemption 50,000.00
Net income 30,000.00
Retained earnings 80,000.00
Problem 7
NET INCREASE 90,000.00
Problem 8
Net income 300,000.00
Piecemeal realization 10,000.00
Dividends declared ` (50,000.00)
Retained earnings balance 260,000.00
Problem 9
Revaluation from quasi - reorg 320,000.00
Deficit eliminated (290,000.00)
Balance after elimination 30,000.00
Piecemeal realization (10,000.00)
Revaluation surplus balance 20,000.00
Problem 10
Preference share capital (5k x 8) 40,000.00
Problem 11
Allocated to OS (700,000 x 30/75) 280,000.00
Ordinary share capital (35,000.00)
Ordinary share premium 245,000.00
Problem 12
Retained earnings before share dividend 1,500,000.00
Par value of share dividend (450,000.00)
Retained earnings after declaration 1,050,000.00
Problem 13 ZERO
Problem 14
January 10 - (5,000 x 8) 40,000.00
March 25 - (40,000 - 22,500) 17,500.00
September 30 - (2,500 x 13) 32,500.00
Share premium 90,000.00
Problem 15
Share capital (9,000 shares) 135,000.00
Share premium 90,000.00
Increase in SHE 225,000.00
Problem 16
Beginning 30,000.00
31-Jan 3,000.00
30-Jun (10,000.00)
1-Aug 5,000.00
Balance 28,000.00
Split up 3.00
Outstanding shares 84,000.00
Problem 17
Outstanding shares 84,000.00
Treasury shares 15,000.00
Issued shares 99,000.00
Par value 1 2/3
Ordinary share capital 165,000.00
Problem 18
Dividends declared 800,000.00
January 1 Retained earnings 450,000.00
Liquidating dividends 350,000.00