Q#03) The following information relates to accounts and operations of Decent Company Limited on Dec. 31,...

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Q#03) The following information relates to accounts and operations of Decent Company Limited on Dec. 31, 2010: Authorised capital; 500,000 Ordinary Shares of Rs. 10 each Rs. 5,000,000. Issued, subscribed and paid up capital; 200,000 Ordinary shares of Rs. 10 each fully paid up Rs. 2,000,000, Retained Earnings Rs. 300,000. Credit balance in the Income Summary was Rs. 285,000 which is transfered to retained earnings accounts. At the meeting of the Board of Directors, the following decisions were taken: i) To make the following appropriations: Rs. 60,000 for Plant Expansion Rs. 50,000 for Contigencies ii) To declare a 20% Cash Dividend. Required i) Entries in the General Journal to give effect to the above decision of the board of Directors and their postings in relevant accounts. ii) Partial Balance Sheet of the Company showing relevant items therein. Q#03) The following information relates to accounts and operations of Decent Company Limited on Dec. 31, 2010: Authorised capital; 500,000 Ordinary Shares of Rs. 10 each Rs. 5,000,000. Issued, subscribed and paid up capital; 200,000 Ordinary shares of Rs. 10 each fully paid up Rs. 2,000,000, Retained Earnings Rs. 300,000. Credit balance in the Income Summary was Rs. 285,000 which is transfered to retained earnings accounts. At the meeting of the Board of Directors, the following decisions were taken: i) To make the following appropriations: Rs. 60,000 for Plant Expansion Rs. 50,000 for Contigencies ii) To declare a 20% Cash Dividend. Required i) Entries in the General Journal to give effect to the above decision of the board of Directors and their postings in relevant accounts. ii) Partial Balance Sheet of the Company showing relevant items therein.