Accounting aid..?
Can anyone backing me near this problem please?
Land plc made a web profit of 2800,000$ for the yer finish 31.05.05, the estimated taxation be 400,000$. in that are 500,000 issued usual 1$shares and the directors propose a dividend of 4 pence per share. the profit and loss tale brought forward from the previous year be 3,500,00$. draw up the appropriation narrative and relevant extracts from the baance sheet for the year.
Im really fruitless at accountin, i did partially of it but not sure if its right or not, can please anyone serve me asap?! Thanks...
Answers:
There would be an appropriation of 20,000$ for dividends(500,000 shares x 4 pence).
As of 31.05.05, the stockholder's equity portion of the go together sheet would show:
Ordinary Shares (500,000 x 1$) 500,000$
Appropriated Retained Earnings 20,000
Unappropriated Retained Earnings 5,880,000
(3,500,000$ + 2,800,000$ - 400,000$ - 20,000$)
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Land plc made a web profit of 2800,000$ for the yer finish 31.05.05, the estimated taxation be 400,000$. in that are 500,000 issued usual 1$shares and the directors propose a dividend of 4 pence per share. the profit and loss tale brought forward from the previous year be 3,500,00$. draw up the appropriation narrative and relevant extracts from the baance sheet for the year.
Im really fruitless at accountin, i did partially of it but not sure if its right or not, can please anyone serve me asap?! Thanks...
Answers:
There would be an appropriation of 20,000$ for dividends(500,000 shares x 4 pence).
As of 31.05.05, the stockholder's equity portion of the go together sheet would show:
Ordinary Shares (500,000 x 1$) 500,000$
Appropriated Retained Earnings 20,000
Unappropriated Retained Earnings 5,880,000
(3,500,000$ + 2,800,000$ - 400,000$ - 20,000$)