Homework Help is Here – Start Your Trial Now!
Business
Accounting
B. Extract from the Balance Sheet: Tangible/Fixed assets at Carrying value Fixed Deposit Ginger Ville Bank 28 February 2018 13 317 000 28 February 2019 1 140 000 Current Assets Inventories Trade and other receivables Bank Petty Cash 1 779 400 1 786 800 677 400 558 000 833 250 1 224 300 261 250 7 500 4 500 Shareholders' equity 10 365 000 12 451 900

B. Extract from the Balance Sheet: Tangible/Fixed assets at Carrying value Fixed Deposit Ginger Ville Bank 28 February 2018 13 317 000 28 February 2019 1 140 000 Current Assets Inventories Trade and other receivables Bank Petty Cash 1 779 400 1 786 800 677 400 558 000 833 250 1 224 300 261 250 7 500 4 500 Shareholders' equity 10 365 000 12 451 900

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Prepare the retained income note.
B. Extract from the Balance Sheet: Tangible/Fixed assets at Carying value Fixed Deposit Ginger Ville Bank 28 February 2018 13 317 000 28 February 2019 1 140 000 Current Assets 1 779 400 1 786 800 Inventories 677 400 558 000 Trade and other receivables 833 250 1 224 300 Bank 261 250 4 500 Petty Cash Shareholders' equity Ordinary share capital 7 500 12 451 900 10 365 000 10 920 000 1 440 000 Retained income 3675 000 4 200 000 Non-current liabilities Current liabilities 870 000 561 000 Trade and other payables: 522 675 Bank Overdraft 984 000 892 500 Shareholders for dividends 62 625 SARS Income tax
Transcribed Image Text:B. Extract from the Balance Sheet: Tangible/Fixed assets at Carying value Fixed Deposit Ginger Ville Bank 28 February 2018 13 317 000 28 February 2019 1 140 000 Current Assets 1 779 400 1 786 800 Inventories 677 400 558 000 Trade and other receivables 833 250 1 224 300 Bank 261 250 4 500 Petty Cash Shareholders' equity Ordinary share capital 7 500 12 451 900 10 365 000 10 920 000 1 440 000 Retained income 3675 000 4 200 000 Non-current liabilities Current liabilities 870 000 561 000 Trade and other payables: 522 675 Bank Overdraft 984 000 892 500 Shareholders for dividends 62 625 SARS Income tax
E. Share Capital Authorised Share Capital was 5 000 000 ordinary shares. 700 000 Shares were in issue on 28 February 2018 120 000 new shares were issued on 1 March 2018, the beginning of the current financial year 20 000 shares were repurchased at R23.25 each on 28 Feb 2019. The average issue price of these shares on the date of repurchase was R13.65 per share. These shares qualify for full dividends F. Dividends An interim dividend of 100 cents per was declared, the shareholders were paid on 30 November 2018. G. Fixed Assets Extensions to the building were done at the cost of R2 040 000 during the financial year. No other fixed assets were purchased Unused equipment was sold at carrying value during the financial year. H. Fixed Deposit 24% of the amount that was invested into Fixed Deposit at the beginning matured during the financial year.
Transcribed Image Text:E. Share Capital Authorised Share Capital was 5 000 000 ordinary shares. 700 000 Shares were in issue on 28 February 2018 120 000 new shares were issued on 1 March 2018, the beginning of the current financial year 20 000 shares were repurchased at R23.25 each on 28 Feb 2019. The average issue price of these shares on the date of repurchase was R13.65 per share. These shares qualify for full dividends F. Dividends An interim dividend of 100 cents per was declared, the shareholders were paid on 30 November 2018. G. Fixed Assets Extensions to the building were done at the cost of R2 040 000 during the financial year. No other fixed assets were purchased Unused equipment was sold at carrying value during the financial year. H. Fixed Deposit 24% of the amount that was invested into Fixed Deposit at the beginning matured during the financial year.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Double entry bookkeeping system
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS