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

March 30, 2026Accounting

ScanSolve AI Answer

2 stepsMarch 30, 2026

Answer

1,200,000$ shares

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

Calculations:

Number of shares in issue at 1 March 2024:
- Authorised shares: $2,000,000$
- Shares in issue: $60\% \times 2,000,000 = 1,200,000$ shares
Interim Dividends (30 August 2024):
- Shares in issue: $1,200,000$ shares
- Dividend per share: $R0.20$

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Quick Answer

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

Asked on March 30, 2026Accounting

This accounting problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.

ScanSolve AI AnswerAnswered on March 30, 2026

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 = 1,200,000 shares 2. Interim Dividends (30 August 2024): Shares in issue: 1,200,000 shares Dividend per share: R0.20