Question 1

The authorised share capital of The Steel Company Ltd. Includes:

100,000 ordinary shares at $4 each

60,000 8 % preference shares at $6 each

At the end of the financial year ending December 31, 2009, the following information was extracted from the   books of the company:

Prepare for The Steel Company Ltd:

(i) Trading and Profit and Loss Account

(ii) Appropriation Account

(iii) Classified Balance Sheet

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