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Prepare the appropriation account and the balance sheet

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Reference no: EM131537949

Question: A. Juby Ltd. is a company with an authorised capital of £20,000 divided into

10,000 6 % Preference Shares of £1 each.

20,000 Ordinary Shares of 10/- each.

All the shares have been issued and are fully paid with the exception of 1,000 Preference Shares on which the final call of 7/6 per share is in arrears. The Net Trading Profit for the Year to 30th June, 1961, is £6,000 and the Balance on Profit & Loss Account brought forward from the previous year is £1,200. It is proposed to pay the following dividends:

6% on the fully paid Preference Shares and

20% on the Ordinary Shares.

£2,000 is to be transferred to General Reserve.

In addition to the balances mentioned above, the following appear in the Company's Ledgers:

347_Debtors.png

Prepare the Appropriation Account and the Balance Sheet as at 30th June, 1961.

Reference no: EM131537949

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