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Financial Accounting Mock Exam 3

30 marks · 45 minutes

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**Section C (questions 15-20) refers to this scenario.** Zawadi Enterprises Ltd issues 300,000 ordinary shares of KES 10 par value at KES 13 each. Profit before tax for the year is KES 620,000; tax is KES 155,000. Dividends declared are KES 90,000. Opening retained earnings were KES 210,000, and there is an existing general reserve of KES 60,000. Separately, the company has a KES 250,000 long-term loan, KES 140,000 of trade payables, and the tax above remains unpaid at year end.

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  • 20 questions, 45 minutes.
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