A 1 and 2 D 3 and 4 Bland 3 C2 and 4 S xo so 5 Tiwari & Company Ltd have issued 100 000 5% redeemable
A 1 and 2 D 3 and 4Bland 3
C2 and 4
S xo so
5 Tiwari & Company Ltd have issued 100 000 5% redeemable preference shares of $1 each
and 600 000 ordinary shares of $0.50 each. All the shares are fully paid.
Tiwari and Company Ltd provided the following information relating to the year ended
30 June 20-8
000
20-7
9500
July 1
Retained earnings
General reserve
12000
Dec 31 Dividends paid
LAN
Half year dividend on preference shares
Interim dividend of 5% on ordinary shares
20-8
June 30 Profit for the year before preference share dividend SO DO SE
Dividend paid:
Half year dividend on preference shares
On 30 June 20-8 it was decided to transfer $10000 to the general reserved to pay a
final dividend of 10% on the ordinary shares
a Calculate the profit for the year ended 30 June 20-ater the preference sista
dividend. Show your workings
b Prepare the statement of changes in equity of Tiwari & Company Ltd for the year
ended 30 June 20-8.
c Prepare a relevant extract from the statement of financial position of Tiwari &
Company Ltd at 30 June 2008 showing the equity and reservas section
d Explain which dividends (if any) would appear in the statement of financial position of
Tiwari and Company Ltd at 30 June 20-8. Give reasons for your answer.
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