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A company called SparkTrack Ltd has just calculated a net profit before taxation of R150 000. The taxation for the year is calculated as 28% of net profit before taxation. Capital includes 200 000 x 5% preference shares valued at R1 each. Ordinary share capital consists of 200 000 shares at R1 each. The board of directors have decided to declare a dividend of R0,10 per share. The balance of retained profit at the beginning of the year was R500 000. The financial year ended at 31 December 2018.   Using the information provided for SparkTrack Ltd , prepare the abridged statement of comprehensive income for the year end 31 December 2018.

A company called SparkTrack Ltd has just calculated a net profit before taxation of R150 000. The taxation for the year is calculated as 28% of net profit before taxation. Capital includes 200 000 x 5% preference shares valued at R1 each. Ordinary share capital consists of 200 000 shares at R1 each. The board of directors have decided to declare a dividend of R0,10 per share. The balance of retained profit at the beginning of the year was R500 000. The financial year ended at 31 December 2018.   Using the information provided for SparkTrack Ltd , prepare the abridged statement of comprehensive income for the year end 31 December 2018.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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A company called SparkTrack Ltd has just calculated a net profit before taxation of R150 000. The taxation for the year is calculated as 28% of net profit before taxation. Capital includes 200 000 x 5% preference shares valued at R1 each. Ordinary share capital consists of 200 000 shares at R1 each. The board of directors have decided to declare a dividend of R0,10 per share. The balance of retained profit at the beginning of the year was R500 000. The financial year ended at 31 December 2018.

 

Using the information provided for SparkTrack Ltd , prepare the abridged statement of comprehensive income for the year end 31 December 2018.

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