Prepare the retained income note. B. Extract from the Balance Sheet:Tangible/Fixed assets at Carying valueFixed Deposit Ginger Ville Bank28 February 201813 317 00028 February 20191 140 000Current Assets1 779 4001 786 800Inventories677 400558 000Trade and other receivables833 2501 224 300Bank261 2504 500Petty CashShareholders' equityOrdinary share capital7 50012 451 90010 365 00010 920 0001 440 000Retained income3675 0004 200 000Non-current liabilitiesCurrent liabilities870 000561 000Trade and other payables:522 675Bank Overdraft984 000892 500Shareholders for dividends62 625SARS Income tax E. Share CapitalAuthorised Share Capital was 5 000 000 ordinary shares.700 000 Shares were in issue on 28 February 2018120 000 new shares were issued on 1 March 2018, the beginning of the currentfinancial year20 000 shares were repurchased at R23.25 each on 28 Feb 2019.The average issue price of these shares on the date of repurchase was R13.65 pershare. These shares qualify for full dividendsF.DividendsAn interim dividend of 100 cents per was declared, the shareholders were paid on 30November 2018.G. Fixed AssetsExtensions to the building were done at the cost of R2 040 000 during the financialyear. No other fixed assets were purchasedUnused equipment was sold at carrying value during the financial year.H. Fixed Deposit24% of the amount that was invested into Fixed Deposit at the beginning maturedduring the financial year.

B. Extract from the Balance Sheet: Tangible/Fixed assets at Carrying value Fixed Deposit Ginger Ville Bank 28 February 2018 13 317 000 28 February 2019 1 140 000 Current Assets Inventories Trade and other receivables Bank Petty Cash 1 779 400 1 786 800 677 400 558 000 833 250 1 224 300 261 250 7 500 4 500 Shareholders' equity 10 365 000 12 451 900

B. Extract from the Balance Sheet: Tangible/Fixed assets at Carrying value Fixed Deposit Ginger Ville Bank 28 February 2018 13 317 000 28 February 2019 1 140 000 Current Assets Inventories Trade and other receivables Bank Petty Cash 1 779 400 1 786 800 677 400 558 000 833 250 1 224 300 261 250 7 500 4 500 Shareholders' equity 10 365 000 12 451 900

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 8MC: Hyde Corporations capital structure at December 31, 2018, was as follows: On July 2, 2019, Hyde...

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