FACULTY OF COMMERCE, MANAGEMENT AND LAW Question 3 (35 Marks) Here are the financial statements of Premier Suites Ltd on 31 December 2020 Premier Suites Ltd Abridged Statement of profit or loss\& other Comprehensive income for the year ended 31 Premier Suites Ltd 19 FACULTY OF COMMERCE, MANAGEMENT AND LAW Dramiar Cuitee 1ta Additional information: 1. Favorable market conditions enabled the company to place 200000 ordinary shares privately with institutional investors at 55c per share and also to issue 600006N preference shares to the public at N$1 per share. - The issue of new shares was to redeem the mortgage debentures The company paid share The company had sold a small plot in December 2020 . The cost of the land disposed of was 2. The company had soid a smail piot in December 2020 . The cost of the tand disposed of was (No other fixed assets were soid or scrapped during the year) 3. Included in the profit before taxation is interest paid of NS5400, and interest received of NS 1300. deciared consists of - Preference dividends N\$6000 20 FACULTY OF COMMERCE, MANAGEMENT AND LAW FACULTY OF COMMERCE, MANAGEMENT AND LAW Question 3 (35 Marks) Here are the financial statements of Premier Suites Ltd on 31 December 2020 Premier Suites Ltd Abridged Statement of profit or loss\& other Comprehensive income for the year ended 31 Premier Suites Ltd 19 FACULTY OF COMMERCE, MANAGEMENT AND LAW Dramiar Cuitee 1ta Additional information: 1. Favorable market conditions enabled the company to place 200000 ordinary shares privately with institutional investors at 55c per share and also to issue 600006N preference shares to the public at N$1 per share. - The issue of new shares was to redeem the mortgage debentures The company paid share The company had sold a small plot in December 2020 . The cost of the land disposed of was 2. The company had soid a smail piot in December 2020 . The cost of the tand disposed of was (No other fixed assets were soid or scrapped during the year) 3. Included in the profit before taxation is interest paid of NS5400, and interest received of NS 1300. deciared consists of - Preference dividends N\$6000 20 FACULTY OF COMMERCE, MANAGEMENT AND LAW