2.3 Sinbad Bhid's constitution has a provision for 80 million ordinary shares, and its paid-up share...
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2.3 Sinbad Bhid's constitution has a provision for 80 million ordinary shares, and its paid-up share capital comprised 60 million shares paid-up to RM72 million. To raise funds Sinbad Bhd made a rights of 15.000.000 new ordinary shares at an issue price of RM1.60 per share to its existing shareholders. Required: Show the journal entries to record the above transactions and prepare an extract from the statement of financial position. 2.3 Sinbad Bhid's constitution has a provision for 80 million ordinary shares, and its paid-up share capital comprised 60 million shares paid-up to RM72 million. To raise funds Sinbad Bhd made a rights of 15.000.000 new ordinary shares at an issue price of RM1.60 per share to its existing shareholders. Required: Show the journal entries to record the above transactions and prepare an extract from the statement of financial position.
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Related Book For
Understanding Financial Accounting
ISBN: 978-1118849385
1st Canadian Edition
Authors: Christopher Burnley, Robert Hoskin, Maureen Fizzell, Donald
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