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5 marksLimited Liability Companies

CSEC Principles of Accounts · January 2017 · Paper 2 · Question 7(b)(i)

To start F and W Company Limited on 1 January 2016, 20,000 registration/legal fees were paid, and funds were collected for 100,000 1 ordinary shares, 75,000 2 12% preference shares, and 10,000 5 20% debentures.

Prepare F and W's Bank Account to show the balance of receipts and payments as at 1 January 2016.

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Other parts of this question

  1. 7(a)(i)List TWO advantages of creating a limited liability company rather than a partnership.[2 marks]
  2. 7(a)(ii)List TWO disadvantages of creating a limited liability company rather than a partnership.[2 marks]
  3. 7(b)(ii)Prepare the detailed Appropriation Account for F and W Company Limited for the year ended 31 December 2016, showing all working clearly.[9 marks]
  4. 7(b)(iii)List FOUR items which will appear in the Capital section of F and W's Statement of Financial Position as at 31 December 2016.[2 marks]

More practice: the rest of this paper · more Limited Liability Companies questions · all CSEC Principles of Accounts past papers