Homework Help is Here – Start Your Trial Now!
Business
Finance
The following information relates to Shipanga Limited for the year ended 31 December 2015: Shipanga Limited Extract from statement of comprehensive income For the year ended 31 December 2015 2015 2014 NS NS Profit before tax Income tax expense Profit for the year Other comprehensive income for the year Total comprehensive income for the year 82 500 63 750 (7 500) (3 750) 75 000 60 000 75 000 60 000 Shipanga Limited Extract from Statement of comprehensive income For the year ended 31 December 2015 Retained earnings 2014 NS 2015 NS 375 000 Opening balance Total comprehensive income for the year Preference dividends declared Ordinary dividends declared Closing balance 90 000 75 000 60 000 (3 750) (7 500) (3 750) (4 500) 141 750 438 750 Additional information • The balances in the share capital accounts at 1 January 2014 were as follows: Ordinary shares: N$ 300 000 (all the ordinary shares were issued at N$ 0.30 per share). Non-cumulative, non-redeemable 10% preference shares: N$ 75 000 (all the preference shares were issued at N$ 1.50 per share)). • An issue of 750 000 ordinary shares took place on 31 March 2015 at an issue price of N$ 0.30 per share. • There was no other movement in the equity accounts other than the movements evident from the information provided above. Required Prepare the following for inclusion in the notes to the financial statements of Shipanga Limited for the year ended 31 December 2015, in accordance with International Financial Reporting Standards: • An extract from the statement of comprehensive income • An extract from the statement of changes in equity Earnings per share note and dividends per share note

The following information relates to Shipanga Limited for the year ended 31 December 2015: Shipanga Limited Extract from statement of comprehensive income For the year ended 31 December 2015 2015 2014 NS NS Profit before tax Income tax expense Profit for the year Other comprehensive income for the year Total comprehensive income for the year 82 500 63 750 (7 500) (3 750) 75 000 60 000 75 000 60 000 Shipanga Limited Extract from Statement of comprehensive income For the year ended 31 December 2015 Retained earnings 2014 NS 2015 NS 375 000 Opening balance Total comprehensive income for the year Preference dividends declared Ordinary dividends declared Closing balance 90 000 75 000 60 000 (3 750) (7 500) (3 750) (4 500) 141 750 438 750 Additional information • The balances in the share capital accounts at 1 January 2014 were as follows: Ordinary shares: N$ 300 000 (all the ordinary shares were issued at N$ 0.30 per share). Non-cumulative, non-redeemable 10% preference shares: N$ 75 000 (all the preference shares were issued at N$ 1.50 per share)). • An issue of 750 000 ordinary shares took place on 31 March 2015 at an issue price of N$ 0.30 per share. • There was no other movement in the equity accounts other than the movements evident from the information provided above. Required Prepare the following for inclusion in the notes to the financial statements of Shipanga Limited for the year ended 31 December 2015, in accordance with International Financial Reporting Standards: • An extract from the statement of comprehensive income • An extract from the statement of changes in equity Earnings per share note and dividends per share note

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
See similar textbooks
icon
Related questions
Question

answer three  subparts       

The following information relates to Shipanga Limited for the year ended 31 December 2015: Shipanga Limited Extract from statement of comprehensive income For the year ended 31 December 2015 2015 NS 82 500 (7 500) 75 000 2014 NS Profit before tax 63 750 Income tax expense (3 750) Profit for the year Other comprehensive income for the year Total comprehensive income for the year 60 000 75 000 60 000 Shipanga Limited Extract from Statement of comprehensive income For the year ended 31 December 2015 Retained earnings 2015 NS 375 000 75 000 2014 N$ Opening balance Total comprehensive income for the year Preference dividends declared Ordinary dividends declared Closing balance 90 000 60 000 (3 750) (7 500) 438 750 (3 750) (4 500) 141 750 Additional information • The balances in the share capital accounts at 1 January 2014 were as follows: - Ordinary shares: N$ 300 000 (all the ordinary shares were issued at N$ 0.30 per share). - Non-cumulative, non-redeemable 10% preference shares: N$ 75 000 (all the preference shares were issued at N$ 1.50 per share). An issue of 750 000 ordinary shares took place on 31 March 2015 at an issue price of N$ 0.30 per share. • There was no other movement in the equity accounts other than the movements evident from the information provided above. Required Prepare the following for inclusion in the notes to the financial statements of Shipanga Limited for the year ended 31 December 2015, in accordance with International Financial Reporting Standards: • An extract from the statement of comprehensive income • An extract from the statement of changes in equity • Earnings per share note and dividends per share note THE END
Transcribed Image Text:The following information relates to Shipanga Limited for the year ended 31 December 2015: Shipanga Limited Extract from statement of comprehensive income For the year ended 31 December 2015 2015 NS 82 500 (7 500) 75 000 2014 NS Profit before tax 63 750 Income tax expense (3 750) Profit for the year Other comprehensive income for the year Total comprehensive income for the year 60 000 75 000 60 000 Shipanga Limited Extract from Statement of comprehensive income For the year ended 31 December 2015 Retained earnings 2015 NS 375 000 75 000 2014 N$ Opening balance Total comprehensive income for the year Preference dividends declared Ordinary dividends declared Closing balance 90 000 60 000 (3 750) (7 500) 438 750 (3 750) (4 500) 141 750 Additional information • The balances in the share capital accounts at 1 January 2014 were as follows: - Ordinary shares: N$ 300 000 (all the ordinary shares were issued at N$ 0.30 per share). - Non-cumulative, non-redeemable 10% preference shares: N$ 75 000 (all the preference shares were issued at N$ 1.50 per share). An issue of 750 000 ordinary shares took place on 31 March 2015 at an issue price of N$ 0.30 per share. • There was no other movement in the equity accounts other than the movements evident from the information provided above. Required Prepare the following for inclusion in the notes to the financial statements of Shipanga Limited for the year ended 31 December 2015, in accordance with International Financial Reporting Standards: • An extract from the statement of comprehensive income • An extract from the statement of changes in equity • Earnings per share note and dividends per share note THE END
Expert Solution
steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Essentials Of Investments
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
FUNDAMENTALS OF CORPORATE FINANCE
FUNDAMENTALS OF CORPORATE FINANCE
Finance
ISBN:
9781260013962
Author:
BREALEY
Publisher:
RENT MCG
Financial Management: Theory & Practice
Financial Management: Theory & Practice
Finance
ISBN:
9781337909730
Author:
Brigham
Publisher:
Cengage
Foundations Of Finance
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS