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6 marksLimited Liability Companies

CSEC Principles of Accounts · 2022 · Paper 2 · Question 4(b)

Information regarding Payne Ltd's authorized share capital and share/debenture issues during 2021-2022 is provided.

Prepare general journal entries to record the three transactions for Payne Ltd (narratives not required).

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Other parts of this question

  1. 4(a)List THREE components that Payne Ltd should include in the business plan.[3 marks]
  2. 4(c)Prepare an extract showing the shareholders' equity section of Payne Ltd's statement of financial position as at 30 April 2022.[6 marks]
  3. 4(d)Calculate the amount paid out in dividends for the year ended 30 April 2022 for ordinary shares and preference shares.[3 marks]
  4. 4(e)(i)Calculate the additional number of 8% preference shares that the company can issue.[1 mark]
  5. 4(e)(ii)Calculate the total value of these additional preference shares.[1 mark]

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