20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for March and June 2025 exams.
Get your discount code >>

DEC 2010 Q1 (ii)

This topic has 1 reply, 2 voices, and was last updated 8 years ago by John Moffat.

Viewing 2 posts - 1 through 2 (of 2 total)

Author
Posts
May 31, 2016 at 1:14 pm #318408
sky1407
Member
- Topics: 10
- Replies: 8
Hi sir,
What does it mean with existing ordinary shares will be cancelled?And why is reserves no more in the financial statements?Thanks.
May 31, 2016 at 3:08 pm #318434
John Moffat
Keymaster
- Topics: 57
- Replies: 54664
It means that the existing shares (and the retained earnings that belonged to the shareholders) no longer exist.
Author
Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.