Blog

The use of search engines such as Google during an exam is prohibited.

An endothermic reaction

When there is a net release of energy in a chemical reaction, it is called a(n) ______________ reaction.

In what Samaritan city did Jesus meet the woman at the well?

Which 2 Gospels contain the “Our Father,” or the Lord’s Prayer?

In what city was Jesus born?

The directors of Mica Limited want to expand the company and need to raise $100 000. They are considering issuing either 6% preference shares or 5% debentures. REQUIRED 4 State three features of preference shares. 1       2       3       5 State three features of debentures. 1       2       3      

6 Complete the table to indicate the effect of raising the funds from an issue of 5% debentures on 1 January 2019. Where there is no effect place a tick () in the ‘no effect’ column. The first one has been completed as an example.   increase $ decrease $ no effect effect on balance at bank 100 000     effect on non-current liabilities       effect on working capital       effect on equity at 1 January 2019       effect on annual profits       (4)

The financial year of Mica Limited ends on 31 December. The following information is available. At 1 January 2 021   $ Ordinary share capital 200 000 Retained earnings 16 500   General reserve 8 000   Dividends paid during the year ended 31 December 2018 Final dividend for the year ended 31 December 2020 8 000   Interim dividend for the year ended 31 December 2021 6 000   Profit for the year ended 31 December 2021 28 000 On 31 December 2021 it was decided to make a transfer to general reserve of $3000.

REQUIRED Prepare a statement of changes in equity for the year ended 31 December 2021. Mica Limited Statement of Changes in Equity for the year ended 31 December 2021   Ordinary share capital $ Retained earnings $ General reserve $ Total $ On 1 January 2018         Profit for the year         Dividend paid         – final         interim         Transfer to general reserve         On 31 December 2018         [6]