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Emcee Berhad issued 2,000,000 new ordinary shares to the public, at an offer price of $2.30 per share. Application for a total of 5,000,000 shares was received.
Emcee Berhad issued 2,000,000 new ordinary shares to the public, at an offer price of RM2.30 per share. Application for a total of 5,000,000 shares was received. (a) Show the necessary journal entries upon completion of the above transaction. (b) Prepare the extract of SOFP, showing the equity position of Emcee Berhad after completion of the above transaction.
Emcee Berhad issued 2,000,000 new ordinary shares to the public, at an offer price of $2.30 per share. Application for a total of 5,000,000 shares was received. Prepare the extract of SOFP, showing the equity position of Emcee Berhad after completion of the above transaction.
Maxi Berhad offered 1 million ordinary shares for issue to public on 1 January 2019 at an issue price of $1.50 per share. A total amount of $3,000,000 was received from the applicants on 30 November 2019. The oversubcription of $1,500,000 was returned to unssucessful applicants on 20 December 2019. On 31 March 2020, Maxi Berhad declared a 3 for 2 bonus issue. Extract of Maxi Berhad's balance sheet prior to issuane of bonus shares is as follows: $ Ordinary...
(25 MARKS) QUESTION 3 Miranda Berhad issues 1,000,000 no-par value ordinary shares for cash at RM4.00 per share. The following were the related transaction for Miranda Berhad. 2 October 2019 A prospectus is issued to the public inviting subscription of shares payables in full upon application. 18 November 2019 All shares are fully subscribed with the application money received on that date. 30 November 2019 The shares are allotted to successful applicants. The cost of share issue is RM300,000. Required:...
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...
Neste Berhad has offered to public for subscription 30,000 ordinary shares of RM100 each payable as RM30 per share on application, RM30 per share on allotment, RM20 on the first call and RM20 on the second call. Applications were received for 40,000 shares and pro-rata allotment was made on the application for 35,000 shares. Excess application money was utilised towards allotment. Albert to whom 600 shares were allotted failed to pay the allotment money and his shares were forfeited immediately...
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...
b) Cemerlang Bhd is authorised to issue 2,000,000 ordinary shares of RM2.50 per share. The following share transactions were completed during the year. 2018 July 1 September 1 December 1 Issued 500,000 shares for cash at RM3 per share Issued 10,000 shares for cash at RMS per share Purchased 50,000 treasury shares at RM4.50 per share Required: i) Prepare the journal entries for the above transactions. (5 marks) (CLO1:PL01:03) ii) Explain each of the following terms: - Authorized ordinary shares...
On 1 Feb 2021, a prospectus was issued offering 300,000 ordinary shares at an issue price of $6 per share, payable $2 on application, 2$ on allotment, and $2 on a final call. The closing date for application was 7 Feb. The issue was underwritten at a commission of $500. On 7 Feb, applications were received for 350,000 shares by this date. On 8 Feb, the shares were allotted, with the oversubscription being refunded to unsuccessful applicants. The underwriting commission...
July 1 The company decided that 1,500,000 ordinary shares were to be offered to the public at an issue price of $3, payable as follows: $1.50 on application (due 1 August) $0.50 on allotment (due 30 August) $1 on future calls August 1 Applications had been received for 1,750,000 shares of which applicants for 300,000 shares forwarded the full $3 per share, the remainder paying only the application money. August 5 At the directors’ meeting it was decided to allot...