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Presentation of financial statements - Example 3 - ACCA FR

VIVA Subject Guide
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7 Comments

  1. Alex
    Hello Chris, the profit for the year was $421,000, which is fine but if the $421,000 is for total comprehension income. How will you treat or deal with the properties revaluation increase of $105,000?
  2. Former user
    [Content removed at user request]
  3. Former user
    [Content removed at user request]
  4. acleaplummer
    I think we dr bank instead of retained earnings
  5. Former user
    [Content removed at user request]
  6. Tugcem Kocadal
    Hi,
    If we have a bonus issue do we make the entries like this?
    cr share capital
    dr share premium
    cr retained earnings (balancing figure)
  7. Fenali
    I guess we are issuing bonus shares out of retained earnings first so that can’t be credit and we can debit share premium account if we don’t have sufficient balance in retained earnings and other usable reserves and surplus. It’s just that we are trying to transfer the benefit of our earnings and surpluses to our shareholders.

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