Tutorial 6 -_company_reconstruction_answer (1)
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This document provides an example solution to a company reconstruction tutorial question. It includes journal entries to record various transactions as part of the reconstruction, including a capital reduction, debt for equity swap, asset sale, and share conversions. It also presents the post-reconstruction statement of financial position, showing the company's assets, liabilities and shareholders' equity after implementing the reconstruction plan.
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References
Highland Risk Services. (2014). Risk Management for Healthcare Clinics. Retrieved from Highland Risk Services: http://www.highlandrisk.com/index.php?option=com_content&view=article&id=74:risk-management-for-healthcare-clinics&catid=7&Itemid=223
Sullivan, M. (2013). The Top Five Challenges Facing Today’s Hospitals. Retrieved from http://blog.schneider-electric.com/building-management/2013/10/17/top-five-challenges-facing-todays-hospitals/
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- 2. 2 7. Capital reduction account Debtors(3,540 x 10%) Retained earnings 3,744 354 3,390 8. Land Capital reduction account Building Equipment Inventories 1,500 620 800 820 500 9. Capital reduction account Cash 200 200 10. Reserve Capital Reduction 489 489 CR 400 2500 3744 1200 620 375 200 400 4964 4475 489 (b) FiZy Bhd Statement of Financial Position as at 31 December 2013 RM'000 Assets Non Current Assets Land 7,000 Building (net) 2,560 Equipment (net) 2,000 11,560 Current Assets Inventory 7,500 Trade receivables 3,186 Cash 540 11,226 Total Assets 22,786 Liabilities And Equity Current Liabilities Trade Creditors 1,200 Non Current Liabilities 9% Debentures 6,000 Total Liabilities 7,200
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