20x5 Sept
1 st july 2015 to 30 june 2016 $
Final dividend for the year ended 30 June 2015 paid (declared
20x6
August )
100,000
March Interim dividend for the year ended 30 June 20X6 paid
40,000
Sept Final dividend for the year ended 30 June 2016 paid (declared August 2016)
20,000
What figures, if any, should be disclosed in the company's statement of profit or loss and other comprehensive income for the year ended 30 June 2016 and its statement of financial position
Here they are asking figures to be disclosed in financial statements in sopl and sofp
In sofp we include when dividend is declared so it will treated as current liablity
In socie when dividend is paid what will be the figure to mention in socie do we include the paid dividend and the declared dividend in socie
Ask the Tutor ACCA FA
Dividend in socie
4y ago#1Yes, it is as you have written for both the SOFP and the SOCE.
Have you watched my free lectures on this? The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.
Yes sir , sir in sofp the figure will be 120000 and in socie 160000 my doubt is in answer key its given nil.in sofp why ?
4y ago#3Sorry, my mistake - I read your post too quickly before and you have not made all the dates clear.
If the year end is 30 June 2016, then the 100,000 and the 40,000 had both been paid before the year end so there was nothing owing as at 30 June 2016.
The 20,000 dividend was not declared until after 30 June 2016 and therefore again there was nothing owing as at 30 June 2016.
So there is indeed nothing to appear in the SOFP.
Thank u so much sir ,May God shower his blessings upon u
4y ago#5You are welcome :-)
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