Given that:
Part 2 (32 Marks) hese 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...
Refrence Deegan. (2016). Financial Accounting . McGraw-Hill Education, Australi On 1 January 2019, Rake Ltd had equity accounts as follows. Share capital (60 000 shares issued for $30 each) General reserve Retained earnings $1 800 000 250 000 900 000 During the year, the following transactions occurred. Feb. 1 Mar. 1 July 1 Declared a $0.60 cash dividend per share to shareholders, payable on 1 March. Paid the dividend declared in February. Declared a 10% share dividend to shareholders, distributable...
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...
COVID Ltd reported a net income after tax of $2 850 000 for the year ended 30 June 2019. The capital structure of COVID Ltd follows: 30 June 2018 30 June 2019 Ordinary shares 500 000 500 000 Convertible preference shares ($3 dividend per share; convertible to 10,000 shares) 10 000 10 000 8% Convertible notes ( convertible to 30,000 ordinary shares) $ 1000 000 $ 1000 000 COVID Ltd paid its preference shareholders during the year and there are...
You are provided balances as extracted from the books of Malindi Ltd. on 31 Dec. 2012: Sh. 000 Ordinary share capital (Sh. 5 per value) 800 P & L Reserve 64 Revaluation Reserve 100 Share premium 150 The information below relates to the year to 31 Dec. 2013: A bonus issue of shares was made on 1 Feb. 2013 at 1 share for every 8 issued shares out of the share premium account. During the audit of the financial...
The following is an extract from the books of Freight Express Company Ltd taken on 31 December 2018. share capital issued: Ordinary shares at $1 8% preference shares at $2 $150000 $100000 Retained profits for the year after taxation $186000 General Reserve $95000 Retained Profits from previous year $124000 The board of directors proposed the following : $50000 is to be transferred to General Reserve. Dividend of 20% proposed for ordinary shares. Preference shares dividend to be settled in full....
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...
You are provided with the information for Mwape Mulenga and co. Ltd at 31 December 2018: к Ordinary share capital (K500 shares) 5% preference share capital K100 shares Freehold land and buildings at cost Provision for depreciation - buildings Debtors Creditors Cash at bank Stock at 14 January 2018 Sales Discounts allowed Discounts received Purchases Carriage inwards Carriage outwards 10% debentures Debenture interest paid Administrative expenses Salaries (excluding directors) Preference dividend paid Retained Earnings b/f 120 000 40 000 460...
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...
Please show all working QUESTION 2: COMPANY EQUITY, SPECIAL REPORTING ISSUES AND EPS Question 2 consists of three separate parts, Part 1, Part 2 and Part 3. All parts are compulsory. Part 1 Kelly Ltd undertook an issue of ordinary and preference shares in April 2018 as stated by the following transactions: 2018 A prospectus was issued inviting applications for 100,000 ordinary shares at an issue price of $1.50, fully payable on application. The prospectus also offered 100,000 10 %...