The following information is available about a company's dividends: 2014 Sept. Final dividend for the year ended 30 June 2014 paid (declared August 2014) 100,000 2015 March Interim dividend for the year ended 30 June 2015 paid 40,000 Sept. Final dividend for the year ended 30 June 2015 paid (declared August 2015) 20,000 What figures, if any, should be disclosed in the company's statement of comprehensive income for the year ended 30 June 2015 and its statement of financial position as at that date? A. O SOCI for the period - nil, SOFP liability - $120,000 B. O SOCI for the period - nil SOFP liability - nil C. O SOCI for the period - $160,000 deduçtion, SOFP liability -$120.000 D. O SOCI for the period - $140,000 deduction, SOFP liability - nil

The following information is available about a company's dividends: 2014 Sept. Final dividend for the year ended 30 June 2014 paid (declared August 2014) 100,000 2015 March Interim dividend for the year ended 30 June 2015 paid 40,000 Sept. Final dividend for the year ended 30 June 2015 paid (declared August 2015) 20,000 What figures, if any, should be disclosed in the company's statement of comprehensive income for the year ended 30 June 2015 and its statement of financial position as at that date? A. O SOCI for the period - nil, SOFP liability - $120,000 B. O SOCI for the period - nil SOFP liability - nil C. O SOCI for the period - $160,000 deduçtion, SOFP liability -$120.000 D. O SOCI for the period - $140,000 deduction, SOFP liability - nil

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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