![QUESTION TWO [20] This question consists of three short questions: 2.1 J Small decided to buy and sell goods from his garage](http://img.homeworklib.com/questions/5c9cb3c0-10d8-11eb-9a60-599072448ff0.png?x-oss-process=image/resize,w_560)
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QUESTION TWO [20] This question consists of three short questions: 2.1 J Small decided to buy...
QUESTION TWO [20] This question consists of three short questions: 2.1 J Small decided to buy...
QUESTION TWO [20] This question consists of three short questions: 2.1 J Small decided to buy and sell goods from his garage after he lost his job at the end of April 2019. During May 2019 Small purchased goods to the value of R54 000, one third of which was sold for R38 000 during May 2019. Distribution BACHELOR OF COMMERCE YEAR 1 - ACADEMIC AND ASSESSMENT CALENDAR - DISTANCE and administration expenses amounted to R3 000 and electricity amounted...
2.3 (6) Fed Ltd has the following authorised share capital: Authorised: 900 000 Ordinary shares 500...
2.3 (6) Fed Ltd has the following authorised share capital: Authorised: 900 000 Ordinary shares 500 000 12% Preference shares. The issued share capital at 31 December 2019 is as follows: 400 000 Ordinary shares at R1,00 each, and 200 000 12% Preference shares at R2,00 each of the issued share capital, the following shares were issued on 30 June 2019 and have been correctly recorded 100 000 Ordinary shares at R1,00 each, and 50 000 12% Preference shares of...
2.3 Fed Ltd has the following authorised share capital: Authorised: 900 000 Ordinary shares 500 000...
2.3 Fed Ltd has the following authorised share capital: Authorised: 900 000 Ordinary shares 500 000 12% Preference shares. The issued share capital at 31 December 2019 is as follows: 400 000 Ordinary shares at R1,00 each, and 200 000 12% Preference shares at R2,00 each Of the issued share capital, the following shares were issued on 30 June 2019 and have been correctly recorded: 100 000 Ordinary shares at R1,00 each, and 50 000 12% Preference shares of R2,00...
Tops Ltd was registered on 1 March 2018 with the following authorised share capital: - 800...
Tops Ltd was registered on 1 March 2018 with the following authorised share capital: - 800 000 Ordinary shares - 350 000 9% preference shares The following transactions took place for the financial year ended 28 February 2019: 2018 3 March The company offered 150 000 ordinary shares at R2,00 each to the subscribers to the memorandum (founders of the company) . The founders took up the offer in full and paid for the shares immediately. 15 March The company...
QUESTION ONE Masaba Company Ltd. is a retail provider with an authorised share capital of 800,000...
QUESTION ONE Masaba Company Ltd. is a retail provider with an authorised share capital of 800,000 Sh.20 ordinary shares and 250,000 8% Sh.20 redeemable preference shares. The following financial information reflects the position of the company as at 31 December 2018 after preparing the Trading, profit and loss account: Sh. `000' Provision for depreciation Fittings 1,500, Motor vehicles 3,740 Goodwill 1,200 Issued share capital: 600,000 Sh.20 Ordinary shares 12,000 250,000 Sh.20 Redeemable preference shares 5,000 Share premium account 400...
Accounting for share capital On 1 January 2019, Funland Ltd was registered and issued a prospectus,...
Accounting for share capital On 1 January 2019, Funland Ltd was registered and issued a prospectus, offering 1,000,000 preference shares at $2.00 payable in full on application by 31 March 2019, and 2,000,000 ordinary shares at $6.00 with $4.00 due on application by 31 March 2019, $1.50 due within one month of allotment, and $0.50 due on a call to be made by the directors at a later date. By 31 March 2019, the company had received applications for 800,000...
A company’s capital consists of 100 000 ordinary shares issued at $2 and paid up to...
A company’s capital consists of 100 000 ordinary shares issued at $2 and paid up to $1 per share. On 1 September, a first call of 50c was made on the ordinary shares. By 30 September, the call money received amounted to $45 000. No further payments were received, and on 31 October, the shares on which calls were outstanding were forfeited. On 15 November, the forfeited shares were reissued as paid to $1.50 for a payment of $1 per...
Part 2 (32 Marks) These balances were extracted from the books of Tembo Ltd as at 31 January 2018...
Part 2 (32 Marks) These balances were extracted from the books of Tembo Ltd as at 31 January 2018 Debit Credit Retained eamings (31 January 2018) Interest payable Long term loan Application and allotment Shareholders for ordinary dividends Stated share capital (2 000 000 ordinary shares Preference share capital and shareholders for preference dividends are not known 12,994,000.00 175,312.50 2,250,000.00 2,691,000.00 30,000.00 4,000,000.00 Additional information On 28 February 2018 Tembo Ltd issued 877 000 ordinary shares and applications worth NS...
Part 2 (32 Marks) hese balances were extracted from the books of Tembo Ltd as at 31 January 2018:...
Part 2 (32 Marks) hese balances were extracted from the books of Tembo Ltd as at 31 January 2018: Debit Credit 12,994,000.00 Retained eamings (31 January 2018) Interest payable Long term loan Application and alotment Shareholders for ordinary dividends Stated share capital ( 2 000 000 ordinary shares) Preference share capital and shareholders for preference dividends are not known 175,312.50 2.250,000.00 2,691,000.00 30,00000 4,000,000.00 Additional information On 28 February 2018 Tembo Ltd issued 877 000 ordinary shares and applications worth...
1. Journalise the transactions in both years 2015 and 2016 2. Prepare an extract of the...
1. Journalise the transactions in both years 2015 and
2016
2. Prepare an extract of the statement of financial
position showing the equity and liability sections at 31 December
2016
QUESTION 3 (TOTAL: 10 marks) Green Wave Berhad has the following equity accounts at 31 December 2014 Ordinary Share Capital, no par value Authorised 1,000,000 shares Issued: 480,000 shares RM480,000 9% Cumulative Preference Share Capital, no par value Authorised: 200.000 shares Issued Nil Retained carnings RM394,000 Additional information: Transactions in...
QUESTION TWO [20] This question consists of three short questions: 2.1 J Small decided to buy and sell goods from his garage after he lost his job at the end of April 2019. During May 2019 Small purchased goods to the value of R54 000, one third of which was sold for R38 000 during May 2019. Distribution BACHELOR OF COMMERCE YEAR 1 - ACADEMIC AND ASSESSMENT CALENDAR - DISTANCE and administration expenses amounted to R3 000 and electricity amounted...
2.3 (6) Fed Ltd has the following authorised share capital: Authorised: 900 000 Ordinary shares 500 000 12% Preference shares. The issued share capital at 31 December 2019 is as follows: 400 000 Ordinary shares at R1,00 each, and 200 000 12% Preference shares at R2,00 each of the issued share capital, the following shares were issued on 30 June 2019 and have been correctly recorded 100 000 Ordinary shares at R1,00 each, and 50 000 12% Preference shares of...
2.3 Fed Ltd has the following authorised share capital: Authorised: 900 000 Ordinary shares 500 000 12% Preference shares. The issued share capital at 31 December 2019 is as follows: 400 000 Ordinary shares at R1,00 each, and 200 000 12% Preference shares at R2,00 each Of the issued share capital, the following shares were issued on 30 June 2019 and have been correctly recorded: 100 000 Ordinary shares at R1,00 each, and 50 000 12% Preference shares of R2,00...
Part 2 (32 Marks) These balances were extracted from the books of Tembo Ltd as at 31 January 2018 Debit Credit Retained eamings (31 January 2018) Interest payable Long term loan Application and allotment Shareholders for ordinary dividends Stated share capital (2 000 000 ordinary shares Preference share capital and shareholders for preference dividends are not known 12,994,000.00 175,312.50 2,250,000.00 2,691,000.00 30,000.00 4,000,000.00 Additional information On 28 February 2018 Tembo Ltd issued 877 000 ordinary shares and applications worth NS...
Part 2 (32 Marks) hese balances were extracted from the books of Tembo Ltd as at 31 January 2018: Debit Credit 12,994,000.00 Retained eamings (31 January 2018) Interest payable Long term loan Application and alotment Shareholders for ordinary dividends Stated share capital ( 2 000 000 ordinary shares) Preference share capital and shareholders for preference dividends are not known 175,312.50 2.250,000.00 2,691,000.00 30,00000 4,000,000.00 Additional information On 28 February 2018 Tembo Ltd issued 877 000 ordinary shares and applications worth...
1. Journalise the transactions in both years 2015 and
2016
2. Prepare an extract of the statement of financial
position showing the equity and liability sections at 31 December
2016
QUESTION 3 (TOTAL: 10 marks) Green Wave Berhad has the following equity accounts at 31 December 2014 Ordinary Share Capital, no par value Authorised 1,000,000 shares Issued: 480,000 shares RM480,000 9% Cumulative Preference Share Capital, no par value Authorised: 200.000 shares Issued Nil Retained carnings RM394,000 Additional information: Transactions in...
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