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The company has issued 50,000 ordinary …

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The company has issued 50,000 ordinary shares at 50 cents each and 20,000 7% preference at $1 each. Its profit after taxation for the year to 30 April 2016 were $84,000. the board of directors has decided to pay preference dividends and transfer $16,000 to a general reserve. What is the issue of ordinary shares? what is the issue of preference shares? Distribution of preference dividends? transfer of profits to general reserve?

Posted by Gabrielle Hall 3 years, 11 months ago

CBSE > Class 12 > Accountancy

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