| |
Solution 14.3
Profit
& Loss Appropriation Account for year ended 31
May 2004
|
|
€ |
€ |
|
Net
operating profit |
|
950,000 |
|
Interest
paid |
35,000 |
|
|
Interest
due |
15,000 |
(50,000) |
|
Net
profit before tax |
|
900,000 |
|
Corporation
tax |
|
(80,000) |
|
Net
profit after interest and tax |
|
820,000 |
|
Appropriations |
|
|
|
Transfer to
reserves |
|
(50,000) |
|
Dividend
policy |
|
|
|
Interim ordinary
dividend |
60,000 |
|
|
Proposed final
dividend |
650,000 |
|
|
Preference
dividend provision |
48,000 |
(758,000) |
|
Retained
profit current year |
|
12,000 |
|
Retained
profit b/f |
|
440,000 |
|
Retained
profit c/f |
|
452,000 |
Current
Liabilities (extract)
as at 31
May 2004
|
|
€ |
|
Debenture
interest |
15,000 |
|
Corporation
tax |
80,000 |
|
Preference
share dividend |
48,000 |
|
Ordinary share
dividend |
650,000 |
Capital
and Reserves as at 31 May 2004
|
|
€ |
|
Ordinary share
capital |
3,000,000 |
|
Preference
share capital |
600,000 |
|
Retained earnings |
452,000 |
|
Revaluation
reserve |
700,000 |
|
Fixed assess
replacement reserve |
150,000 |
|
P&L reserve |
452,000 |
|
General reserve |
110,000 |
|
|
5,464,000 |
|