Thai Sikh International School
E-Learning Programme – Online
Assignment – 02/09/2014
Name
: Subject : Accounting
Year : 11A/B Schedule No. : 1
1.
Sabena Ltd. Was formed
on 1 July 2006 with an authorized capital of $ 1000000 divided into 400000 5% preference shares of $ 1 each
and 600000 ordinary shares of $ 1 each.
On 30 June 2007 half of the
preference shares and all of the ordinary shares had been issued and were fully
paid. At that date the general reserve amounted to $63000 (including
$10000 transferred on 30 June 2007). The balance of retained profit after the
preparation of the profit and loss appropriation account for the year ended 30
June 2007 was
$ 77000. Prepare and appropriate extract from
the balance sheet of Sabena Ltd. at 30 June 2007 showing the shareholder’s
funds.
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