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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 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. Show the necessary journal entries upon completion of the above transaction.
(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:...
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...
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...
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...
3. Journalizing issuance of shares, treasury shares Mara Berhad has the following information Mara Berhad Statement of Financial Position as at 31 December 2017 RM 2,250,000 Paid in Capital: Preferred shares 100,000 shares authorized 45,000 shares issued and outstanding Ordinary shares 150,000 shares authorized 78,000 shares issued and outstanding Total paid in capital 3,120,000 5,370,000 Retained Earnings 101.000.000 Total Shareholders' Equity 547.100.000 June 1 Issued 8,000 at RM63 per shares to acquire a unit of office building. Depreciation policy for...
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...
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...
1) Journalise the above transactions 2) Prepare the updated statement of financial position as at 31 December 2017 QUESTION 4 La Sfera Co was formed on July 1, 2014. The company reported the following summarized statement of financial position at July 1, 2017: RM Assets Cash 472.000 Other assets 1.680.000 Total assets 2.152.000 Liabilities and Equity Liabilities Other liabilities 546,000 Ordinary dividend payable 35,000 Shareholders' equity 7% preference shares, 300,000 authorised, 50,000 issued 250,000 Ordinary share, 500,000 authorised, 250,000 issued...