Please could I get some help on the following for CCs
A member (40%) has requested for contribution R20000 to be paid out to her at the end of the financial year 31 December 2007. This was granted by the members(25% and 35%) resp provided she reduced her loan to the company by R25000. With effect from 31 Dec their interest % in the cc changed to 25% 38% and 35%.
Question: Do I reverse the contribution and undrawn profits from the previous year and apportion them to the change interest% in the current year?
X Y and Z hold 30%(112500) 40%(150000) and 30%(112500) in a CC. X retires and sell his shares at a premium of 6,67% -R120 000 to Y and Z shared equally. A new member Q joins the CC in 2006 with a cash contribuition of R10000 and a loan of R50000 to the CC.
What % of interest should Y and Z offer Q that would be fair to themselves.