Page 64 - Ebook Financial Accounting 3
P. 64
Answer:
Debit Credit
RM RM
6% Redeemable preference shares capital 25,000,000
Preference share redemption account 25,000,000
(Redeemable preference shares are being redeemed)
Preference share redemption account 25,000,000
Bank 25,000,000
(Payment made to the 6% redeemable preference
shareholders)
Ruby Bhd
Statement of Financial Position
RM
Non-current assets 200,000,000
Current assets (except cash at bank) 150,000,000
Cash at bank 65,000,000
415,000,000
Equity
Issued share capital
100,000,000 ordinary shares, fully paid up 350,000,000
Retained profits 50,000,000
Current liabilities 15,000,000
415,000,000
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