Question: Question 2: (30 marks) a. List and briefly explain the different types of errors that are not revealed by the unadjusted trial balance. Give

Question 2: (30 marks) a. List and briefly explain the different types

Question 2: (30 marks) a. List and briefly explain the different types of errors that are not revealed by the unadjusted trial balance. Give examples. (15 Marks) b. The balance sheet of Fahmy plc. shows the following information in its assets and liability and equity section: Assets $ 260,000 60,000 320,000 Non-current assets Current assets Total Assets Liabilities and Equity Total Liabilities 60,000 Equity: Share capital: ordinary shares of $5 each 180,000 Reserves: Share premium 60,000 20,000 320,000 Reserves: Retained earnings Total Liabilities and Equity G Fahmy Plc. Needs to raise more cash and decided to make 1 for 3 rights issue, fully paid in cash at a price $8 per share. Required: Show by using detailed workings the effect on the balance sheet accounts of the rights issue. (15 Marks)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!