Question 2.26 Q&A bank Part 2: the balance sheet provided in the question is dated 31st Dec 2006 & in the additional information provided it is said that $100,000 nominal of 8% CULS was converted on 15 Dec 2006. now since the conversion took place before 31st dec 2006 the new shares issued as a result of the conversion should already have been included in the balance sheet for 31st Dec 2006. but instead this information is included in the balance sheet for 31st Dec 2007 (as shown in the answer) , but not in the balance sheet dated 31st dec 2006?
Well spotted! There is a correction for this question on the CT2 corrections page - http://www.acted.co.uk/Docs/2008/Corrections/CT2 Corrections 2008.pdf Sorry for any confusion.
thanks.... could u pls go thru the other thread ive posted(just before this one) and let me know if am making some mistake there.
