2-A public limited company was incorporated on 1/1/19N with a capital of 70,000,000 L. L. divided...
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2-A public limited company was incorporated on 1/1/19N with a capital of 70,000,000 L. L. divided into 70,000 shares of 1,000 L.L. distributed as follows: - 20,000 contribution in kind shares released to the constitution - 50,000 shares in cash released from the quarter on January 1, 19N, from the second and third quarter on July 1, 19N, and from the last quarter on October 1 of the same year. Profit for the year N amounted to L.L. 35,000,000. The company's articles of association provide for the distribution of profits as follows: - - Allocation to the legal reserve in accordance with legal requirements. - A statutory interest at the rate of 15% on the paid capital. - An allocation to the statutory reserve of 25% of the amount of superdividends allocated to shares - The remainder, and after a possible retained earnings, will be made available to shareholders as super-dividends. It was decided that a total dividend of 400L.L. will be awarded per share. Public limited companies are taxed at the rate of 17%. Work to do Establish the profit distribution table for the year N. 2-A public limited company was incorporated on 1/1/19N with a capital of 70,000,000 L. L. divided into 70,000 shares of 1,000 L.L. distributed as follows: - 20,000 contribution in kind shares released to the constitution - 50,000 shares in cash released from the quarter on January 1, 19N, from the second and third quarter on July 1, 19N, and from the last quarter on October 1 of the same year. Profit for the year N amounted to L.L. 35,000,000. The company's articles of association provide for the distribution of profits as follows: - - Allocation to the legal reserve in accordance with legal requirements. - A statutory interest at the rate of 15% on the paid capital. - An allocation to the statutory reserve of 25% of the amount of superdividends allocated to shares - The remainder, and after a possible retained earnings, will be made available to shareholders as super-dividends. It was decided that a total dividend of 400L.L. will be awarded per share. Public limited companies are taxed at the rate of 17%. Work to do Establish the profit distribution table for the year N.
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Related Book For
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
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