The summarised Balance Sheet of Omicron Ltd at 31 December 2002 was as follows. On 1 January

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The summarised Balance Sheet of Omicron Ltd at 31 December 2002 was as follows.

On 1 January 2003 before any other transactions had taken place the following had occurred:

1. redemption of all the debentures at a premium of 5%

2. redemption of all the preference shares at $1.25 per share.

The shares had originally been issued at $1.10 per share.

Required

A revised Balance Sheet at 1 January 2003 as it appeared after the redemption of the debentures and the preference shares.

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Accounting A Level And AS Level

ISBN: 9780521539937

1st Edition

Authors: Harold Randall

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Question Posted: Aug 28, 2023 01:51 PM

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The summarised Balance Sheet of Omicron Ltd at 31 December 2002 was as follows. On 1 January

Question:

Fixed assets Net current assets 10% debentures 2003/2004 Share capital and reserves Ordinary shares of $1 8% preference shares of $1 Share Premium account Profit and Loss Account noiss $000 1900 1500 3400 400000 OYNA EM 3000 1000 800 180 1020 od 3000

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Accounting A Level And AS Level

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