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Irredeemable Preference Shares

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › Irredeemable Preference Shares

  • This topic has 7 replies, 1 voice, and was last updated 1 year ago by Azai.
Viewing 8 posts - 1 through 8 (of 8 total)
  • Author
    Posts
  • April 14, 2010 at 8:12 am #43520
    general12143
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    The course notes didn’t talk about “Irredeemable Preference Shares” but I saw a question on it in the study kit.

    Please anyone can explain this I would be very grateful.

    April 14, 2010 at 3:14 pm #59172
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 51576
    • ☆☆☆☆☆

    Preference share are share that get a fixed dividend.

    (So 10% $1 preference shares get a fixed dividend of 10c each year)

    The word ‘redeemable’ means repayable, and so ‘irredeemable’ means never repayable.

    June 8, 2010 at 5:03 pm #59173
    abdulwahabsiddiq
    Member
    • Topics: 16
    • Replies: 54
    • ☆☆

    ORDINARY SHARE AND PREFFERENCE SHARE BOTH COMES IN WHICH SECTION :
    A. BALANCE SHEET
    B. ST OF CHANGES IN EQUITY
    C. ST OF CASH FLOW
    D. BOTH A AND B

    June 8, 2010 at 10:12 pm #59174
    shimmer
    Member
    • Topics: 9
    • Replies: 83
    • ☆☆

    correct answer is D.

    i suggest you to also read your study text…The course notes are pretty helpful but they can’t be replaced with ur textbook..

    June 9, 2010 at 7:45 am #59175
    abdulwahabsiddiq
    Member
    • Topics: 16
    • Replies: 54
    • ☆☆

    there is a question 207 in kaplan revision kit. It takes only ordinary shares in st of changes in equity. little bit confusing!

    October 29, 2011 at 3:37 pm #59176
    zubiboy008
    Member
    • Topics: 0
    • Replies: 2
    • ☆

    yeah its fact but one thing which i havnt seen anywhere, what is the accounting treatment of irredeemable preference shares, roger that and m waiting for ur humble response.

    October 31, 2011 at 7:37 pm #59177
    Vipin
    Member
    • Topics: 151
    • Replies: 374
    • ☆☆☆☆

    Redeemable shares are classified as a liability on the statement of financial position.
    Irredeemable shares are classified as equity on the statement of financial position.

    February 3, 2022 at 5:21 pm #648057
    Azai
    Member
    • Topics: 0
    • Replies: 5
    • ☆

    Extracts from the accounting records of Andratx Co relating to the year ended 31 December 20X6 are as follows:

    Revaluation surplus $230,000 Equity interim dividend paid $12,000 Profit before tax $178,000 Estimated tax liability for year $45,000 8% $1 Preference shares $100,000 Under provision for tax in previous year $5,600 Proceeds of issue of 2,000 $1 equity shares $5,000 Final equity dividend proposed $30,000 What was the total of equity reported in the statement of changes in equity at 31 December 20X6?

    A $312,400 B $356,000 C $348,000 D $342,400

    What is the correct answer ?

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