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WorksheetsFinal Quizziz
Total questions: 9
Worksheet time: 8mins
Kaya Sdn Bhd issues 10,000 redeemable preference shares for RM10 per share at a 10% fixed dividend rate. The preference share will have to be redeemed after 5 years.
Should the preference shares be recorded as liability or equity?
Equity
Liability
Mary is paying dividends to cumulative preference shareholders of RM200. In 2021, the pandemic affected her business, so no dividend was paid for that year. In 2022, business conditions have recovered, hence she is able to distribute dividends for the year.
What is the double entry for the transaction?
Dr Cash 200
Cr Dividend payables 200
Dr Cash 400
Cr Dividend payables 400
Dr Retained earnings 200
Cr Dividend Payable 200
Dr Retained earnings 400
Cr Dividend Payable 400
Which of the following type of businesses benefits from limited liability protection?
Sole proprietorship
General Partnership
Corporation
Ali, Muthu and Ah Kao decided to form their own business. They both run and own the business. Which type of business did they form?
Sole proprietorship
Partnership
Limited Liability Company
Public Company
Which of the following are types of liquidity ratios
Quick ratio
Gearing ratio
Inventory turnover ratio
Current ratio
Which type of financial statement can this financial statement be classified under?
Classified Financial Statement
Consolidated Financial Statement
Comparative Financial Statement
Where should the net profit for the year be recorded under?
A
B
C
D
Where should the payment of dividends be recorded under?
A
B
C
D
The directors declared a dividend of RM100,000 of dividend on the 4th July 2022. The financial year ended on the 1st of July 2022.
How should the double entry be recorded?
Dr Cash
Cr Dividend payable
Dr Retained earnings
Cr Dividend payable
Dr Share capital
Cr Dividend payable
No need to record
