The balance below have been extracted from the accounting records at 31 December 2020: 1) Prepayment on building insurance 80,000 2) Retained profits 1 Jan 2020 2,058,000 Ordinary shares of £1 each 4,500,000 Share premium 500,000   Notes : 1)The prepayment on building insurance on 31 December 2020 was £100,000. 2) The company issued 12,000 additional shares at £2.50 each on 30 Decemeber 2020. The proceeds were paid as Christmas bonuses to employees. No entries have been made in the company's accounting records in respect of this transaction What value include in Income statement and Statement of financial position?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The balance below have been extracted from the accounting records at 31 December 2020:

1) Prepayment on building insurance 80,000

2) Retained profits 1 Jan 2020 2,058,000

Ordinary shares of £1 each 4,500,000

Share premium 500,000

 

Notes :

1)The prepayment on building insurance on 31 December 2020 was £100,000.

2) The company issued 12,000 additional shares at £2.50 each on 30 Decemeber 2020. The proceeds were paid as Christmas bonuses to employees. No entries have been made in the company's accounting records in respect of this transaction

What value include in Income statement and Statement of financial position?

 

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