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Prepare the Retained Income account and Appropriation account, including calculations for shares in issue and interim dividends.

Accounting

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Answer

To prepare the Retained Income account and the Appropriation account, we will first calculate the necessary figures from the provided information.

Calculations:

  1. Number of shares in issue at 1 March 2024:

    • Authorised shares: 2,000,000
    • Shares in issue: 60%×2,000,000=1,200,00060\% \times 2,000,000 = 1,200,000 shares

  2. Interim Dividends (30 August 2024):

    • Shares in issue: 1,200,000 shares
    • Dividend per share: R0.20R0.20
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