AP 03
Problem 22
1. Retained Earnings (50,000 X 10% X 80)
400,000
Share Dividends Payable (50,000 X 10% X 50)
250,000
Share Premium
150,000
2. Retained Earnings (50,000 X 20% X 50)
Share Dividends Payable
500,000
500,000
3. Capital Liquidated/Share Premium (2 X 50,000) 100,000
Cash
4. Retained Earnings
Treasury Shares
100,000
120,000
120,000