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Company financial statements

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › Company financial statements

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by secondstar.
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  • January 4, 2018 at 6:57 pm #427272
    storm
    Member
    • Topics: 14
    • Replies: 12
    • ☆

    Issued share capital of Alpha a limited liability company is as follows ordinary shares 10c each $1000000 8%redeemable preference shares of 50c each $500000 in the year end 31 oct 2002 company has paid preference dividends for the year an interim dividend of 2c per share on ordinary shares. A final ordinary dividend of 3c per shareholder was proposed before the reporting date what should be recognisedfor dividends in equity section of sofp at 31st oct 2002? Please help..

    January 4, 2018 at 7:36 pm #427276
    secondstar
    Member
    • Topics: 16
    • Replies: 220
    • ☆☆☆

    The last dividend (final) will NOT be included in SOFP because it is only proposed, not finalised and declared yet.
    So, the preference dividend of 8% and interim dividend of 2c per share will be included in SOFP.

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