O-LevelAccountingPreparation of financial statementsOct/Nov 2018Paper 2 Q320 Marks
The following information is available for B Limited at 31 August 2018. B Limited Statement of Changes in Equity for the year ended 31 August 2018 Ordinary Shares General Reserve Retained Earnings Total $ $ $ $ Balance at 1 September 2017 150000 65000 85000 300000 Profit for the year 75000 75000 Transfer to general reserve 25000 (25000) – Dividend paid (ordinary shares) (21000) (21000) Balance at 31 August 2018 150000 90000 114000 354000 Other balances at 31 August 2018 Trade payables $73000 6% Debentures (repayable 2024) $50000 Debenture interest owing $4800 General expenses owing $5300 5% Bank loan (repayable 31 May 2019) $40000 Additional information B Limited had issued 300000 ordinary shares.
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