Allahumma inni ala ohirika wa The Day Reminde 1589311466_13611 Forensic Accounting and Fraud Con... Ilustration 1: Eze Enterprises Limited is a registered company with an authorised share capital of N2,000,000 divided into 1,600,000 ordinary share of N10 each and 400,000, 6% preference share of N10 each. 1,200,000 of the ordinary shares has been issued and fully paid, while all the preference shares were issued and fully paid. The profit after taxation for the year ended 31" December, 2015 was N490,000. The statement of comprehensive income had a credit balance of N240,000 as at 1" January, 2015. Additional Information: a. Write off preliminary expenses N17,000. b. Transfer N60,000 to general reserve and N40,000 to capital reserve. C. Half of the dividends due on the preference shares had been paid in July, 2015. d. N52,000 was file in FIRS as CIT before arriving at the above profit e. N2,360 was paid as education tax was paid before arriving at the above profit f. An interim dividend of 5% had been paid on the ordinary shares in September, 2015 and the directors have proposed a final dividend of 10% g. Tax rate is 30% At the end of accounting period, the following appropriation account was prepared: Eze Enterprises Limited Appropriation account for the year ended 31/12/15 Preliminary expenses 17,000 Balance bd 240,000 General reserve 60,000 Profit after taxation 490,000 Capital reserve 40,000 Preference dividend 24,000 Interim dividend: ordinary 24,500 Proposed dividend: ordinary 49,000 Balance c/d 515,500 730,000 730,000 a. You are required to examine the above financial information carefully and make a report on your observation. b. If any financial crime is committed, explain the type of crime committed. Allahumma inni ala ohirika wa The Day Reminde 1589311466_13611 Forensic Accounting and Fraud Con... Ilustration 1: Eze Enterprises Limited is a registered company with an authorised share capital of N2,000,000 divided into 1,600,000 ordinary share of N10 each and 400,000, 6% preference share of N10 each. 1,200,000 of the ordinary shares has been issued and fully paid, while all the preference shares were issued and fully paid. The profit after taxation for the year ended 31" December, 2015 was N490,000. The statement of comprehensive income had a credit balance of N240,000 as at 1" January, 2015. Additional Information: a. Write off preliminary expenses N17,000. b. Transfer N60,000 to general reserve and N40,000 to capital reserve. C. Half of the dividends due on the preference shares had been paid in July, 2015. d. N52,000 was file in FIRS as CIT before arriving at the above profit e. N2,360 was paid as education tax was paid before arriving at the above profit f. An interim dividend of 5% had been paid on the ordinary shares in September, 2015 and the directors have proposed a final dividend of 10% g. Tax rate is 30% At the end of accounting period, the following appropriation account was prepared: Eze Enterprises Limited Appropriation account for the year ended 31/12/15 Preliminary expenses 17,000 Balance bd 240,000 General reserve 60,000 Profit after taxation 490,000 Capital reserve 40,000 Preference dividend 24,000 Interim dividend: ordinary 24,500 Proposed dividend: ordinary 49,000 Balance c/d 515,500 730,000 730,000 a. You are required to examine the above financial information carefully and make a report on your observation. b. If any financial crime is committed, explain the type of crime committed