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QUESTION 2 (25 MARKS) The following items were disclosed in the Statement of Financial Position of Adanees Berhad as at 31 October 2015 Adaness Berhad Statement of Financial Position as at 31 Octo...
QUESTION 2 (25 MARKS) The following items were disclosed in the Statement of Financial Position of Adanees Berhad as at 31 October 2015 Adaness Berhad Statement of Financial Position as at 31 October 2015 RM 200,000 Authorised Capital 200,000 5% Redeemable preference shares of RM 1 00 each 300,000 Ordinary shares of RM2.00 each 600,000 800,000 Issued Shares Capital 200,000 300,000 000 5% Redeemable preference shares of RM 1 .00 each 200, 150,000 Ordinary shares of RM2.00 each Reserves 116,000...
7.2 The following sabab as a trial balance as at 31 December 9 extracted from the...
7.2 The following sabab as a trial balance as at 31 December 9 extracted from the books of Goodwood Property Bhd ROOO an ordinary shares 200mx 5 50.001 to 200.000 on 5% cumulative preference shares 70,000 80,000 50.000 12.800 96.000 es debentures Prvation reserve est payable on debentures W Loans from directors Bank overdratt 36.960 561760 Building Equipment Intangible assets Investments Inventories and work-in-progress Trade receivables Accumulated losses 200.000 27.246 16,754 40,000 47.000 120.247 70,692 39.821 561,760 a meeting of...
c) Shiny Shine Bhd has an authorized capital of RM1,000,000 ordinary shares of RM1 each. On...
c) Shiny Shine Bhd has an authorized capital of RM1,000,000 ordinary shares of RM1 each. On 30th November 2019, Shiny Shine Bhd issues a prospectus to the public to subscribe for a total of 500,000 shares at a value of RM3.50 per share payable in full upon application. On 15th December 2019, all shares are fully subscribed with the application money received on that date. The shares are then allotted to successful applicants on 31 December 2019. The costs of...
252 Chapter se statement of the Required Discuss the guitability of the scheme on the various...
252 Chapter se statement of the Required Discuss the guitability of the scheme on the various stakeholders Show the necessary ournal entries to effect the reconstruction scheme and prepare the st position of the company immediately after the internal reconstruction 7.3 Yam Bhd Trial Balance as at 31 December 26 Debit RM Credin 700,000 300.000 602,500 50,000 55,000 75.000 700,000 ordinary shares 300,000 8% preference shares Accumulated losses Intangibles Trade receivables Trade payables Land and building Plant and machinery Inventories...
QI. The following trial balance is extracted from the books of B-Strong Bhd: Trial balance as...
QI. The following trial balance is extracted from the books of B-Strong Bhd: Trial balance as at 31 December 2018 RM RM 96,000 100.000 192.000 480,000 24.000 96,000 480,000 576,000 192,000 10,000 216.000 40.000 8% debentures 8% preference shares of RM1/- each Asset revaluation reserve Building (cost) Deferred tax liability Furniture and fittings (cost) Land (revalued) Ordinary shares of RM1/- each Plant and equipment (cost) Research expenses Retained profits b/d Tax paid Accumulated depreciation at 1.1.2018: Building Plant and equipment...
For the year ending 30 June 2016, XYZ Ltd earns a profit after tax of $1.05...
For the year ending 30 June 2016, XYZ Ltd earns a profit after tax of $1.05 million. Dividends on 400 000 convertible, cumulative preference shares amount to $200 000. The preference dividends are not treated as expenses in the accounts of Lennox Ltd (the preference shares have been disclosed as equity in the statement of financial position). As at 1 July 2015 there were 500 000 fully paid ordinary shares. There were no additional share issues during the year. As...
Macy Berhad has issued share capital of 5,000,000 ordinary shar es of RM0.50 each and 200,000 6% preference shares of RM2 each, in addition to borrowings in the form of 5% debentures totaling RM1,000,000. The board of directors are now
Macy Berhad has issued share capital of 5,000,000 ordinary shar es of RM0.50 each and 200,000 6% preference shares of RM2 each, in addition to borrowings in the form of 5% debentures totaling RM1,000,000.The board of directors are now recommending a 5% final dividend to be paid to ordinary shareholders and to pay dividends to preference shareholders. No interim dividends have been paid. Applicable tax rate is 25%.Interest on debenture s paid during the year was RM25 ,000. The remaining...
Macy Berhad has issued share capital of 5,000,000 ordinary shar es of $0.50 each and 200,000 6% preference shares of $2 each, in addition to borrowings in the form of 5% debentures totaling $1,000,000.
Macy Berhad has issued share capital of 5,000,000 ordinary shar es of $0.50 each and 200,000 6% preference shares of $2 each, in addition to borrowings in the form of 5% debentures totaling $1,000,000.The board of directors are now recommending a 5% final dividend to be paid to ordinary shareholders and to pay dividends to preference shareholders. No interim dividends have been paid. Applicable tax rate is 25%.Interest on debenture s paid during the year was $25 ,000. The remaining...
• Prepare the general journal entries to record the above independent scenarios. • Narrations to general journal entries must be provided. • Complete and detailed workings/calculations must be shown....
• Prepare the general journal entries to record the above
independent scenarios.
• Narrations to general journal entries must be provided.
• Complete and detailed workings/calculations must be shown.
• Absence of workings/calculations may lead to zero marks
allocated to the particular general journal entry, despite the fact
that the entry might be correct!
PLEASE answer scenario5 to 7 thank you very much
The directors issued a prospectus offering 40,000 ordinary shares at an issue price of $2.80, payable $2...
provide explanations for the following transactions. the highest bidder and 5,000 to the defaulting subscribe !...
provide explanations for the following transactions.
the highest bidder and 5,000 to the defaulting subscribe ! Instructions: Prepare the journal entries to record the preceding transactions. PROBLEMS Problem 8-1 (Issuance of Ordinary and Preference Shares on a Subscription Basis and Subscription Defaults) The following selected transactions took place at the newly formed Provi Corporation: Aug. 1 Received authorization from the SEC to issue 50.000 preference shares, P100 par value and 500,000 ordinary shares, P20 par value. Chapter 8 - Organization...
QUESTION 2 (25 MARKS) The following items were disclosed in the Statement of Financial Position of Adanees Berhad as at 31 October 2015 Adaness Berhad Statement of Financial Position as at 31 October 2015 RM 200,000 Authorised Capital 200,000 5% Redeemable preference shares of RM 1 00 each 300,000 Ordinary shares of RM2.00 each 600,000 800,000 Issued Shares Capital 200,000 300,000 000 5% Redeemable preference shares of RM 1 .00 each 200, 150,000 Ordinary shares of RM2.00 each Reserves 116,000...
7.2 The following sabab as a trial balance as at 31 December 9 extracted from the books of Goodwood Property Bhd ROOO an ordinary shares 200mx 5 50.001 to 200.000 on 5% cumulative preference shares 70,000 80,000 50.000 12.800 96.000 es debentures Prvation reserve est payable on debentures W Loans from directors Bank overdratt 36.960 561760 Building Equipment Intangible assets Investments Inventories and work-in-progress Trade receivables Accumulated losses 200.000 27.246 16,754 40,000 47.000 120.247 70,692 39.821 561,760 a meeting of...
c) Shiny Shine Bhd has an authorized capital of RM1,000,000 ordinary shares of RM1 each. On 30th November 2019, Shiny Shine Bhd issues a prospectus to the public to subscribe for a total of 500,000 shares at a value of RM3.50 per share payable in full upon application. On 15th December 2019, all shares are fully subscribed with the application money received on that date. The shares are then allotted to successful applicants on 31 December 2019. The costs of...
252 Chapter se statement of the Required Discuss the guitability of the scheme on the various stakeholders Show the necessary ournal entries to effect the reconstruction scheme and prepare the st position of the company immediately after the internal reconstruction 7.3 Yam Bhd Trial Balance as at 31 December 26 Debit RM Credin 700,000 300.000 602,500 50,000 55,000 75.000 700,000 ordinary shares 300,000 8% preference shares Accumulated losses Intangibles Trade receivables Trade payables Land and building Plant and machinery Inventories...
QI. The following trial balance is extracted from the books of B-Strong Bhd: Trial balance as at 31 December 2018 RM RM 96,000 100.000 192.000 480,000 24.000 96,000 480,000 576,000 192,000 10,000 216.000 40.000 8% debentures 8% preference shares of RM1/- each Asset revaluation reserve Building (cost) Deferred tax liability Furniture and fittings (cost) Land (revalued) Ordinary shares of RM1/- each Plant and equipment (cost) Research expenses Retained profits b/d Tax paid Accumulated depreciation at 1.1.2018: Building Plant and equipment...
• Prepare the general journal entries to record the above
independent scenarios.
• Narrations to general journal entries must be provided.
• Complete and detailed workings/calculations must be shown.
• Absence of workings/calculations may lead to zero marks
allocated to the particular general journal entry, despite the fact
that the entry might be correct!
PLEASE answer scenario5 to 7 thank you very much
The directors issued a prospectus offering 40,000 ordinary shares at an issue price of $2.80, payable $2...
provide explanations for the following transactions.
the highest bidder and 5,000 to the defaulting subscribe ! Instructions: Prepare the journal entries to record the preceding transactions. PROBLEMS Problem 8-1 (Issuance of Ordinary and Preference Shares on a Subscription Basis and Subscription Defaults) The following selected transactions took place at the newly formed Provi Corporation: Aug. 1 Received authorization from the SEC to issue 50.000 preference shares, P100 par value and 500,000 ordinary shares, P20 par value. Chapter 8 - Organization...
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