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On 5 March 20X7, Marchant Ltd issued 200,000 5% irredeemable GHS 1 preference shares.   In accordance with IAS 32 Financial Instruments: Presentation, how will these shares and their related dividend be shown in Marchant Ltd’s financial statements for the year ended 31 March 20X7?               Shares                                      Dividend A         Non-current liabilities            Income statement B          Non-current liabilities            Statement of changes in equity C         Equity                                     Income statement D         Equity                                     Statement of changes in equity

On 5 March 20X7, Marchant Ltd issued 200,000 5% irredeemable GHS 1 preference shares.   In accordance with IAS 32 Financial Instruments: Presentation, how will these shares and their related dividend be shown in Marchant Ltd’s financial statements for the year ended 31 March 20X7?               Shares                                      Dividend A         Non-current liabilities            Income statement B          Non-current liabilities            Statement of changes in equity C         Equity                                     Income statement D         Equity                                     Statement of changes in equity

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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  • On 5 March 20X7, Marchant Ltd issued 200,000 5% irredeemable GHS 1 preference shares.

 

In accordance with IAS 32 Financial Instruments: Presentation, how will these shares and their related dividend be shown in Marchant Ltd’s financial statements for the year ended 31 March 20X7?

 

            Shares                                      Dividend

A         Non-current liabilities            Income statement

B          Non-current liabilities            Statement of changes in equity

C         Equity                                     Income statement

D         Equity                                     Statement of changes in equity

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