Below is a partial Statement of Financial Position of Malika Bhd as at 31 December 2021:...

 

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Below is a partial Statement of Financial Position of Malika Bhd as at 31 December 2021: Malika Bhd Partial Statement of Financial Position As at 31 December 2021 i. ii. As at 31 December 2021, Malika Bhd had 5,000,000 shares outstanding. During 2022, the following transactions took place: iii. iv. Equity: Contributed share capital Retained earnings Total equity (a) (b) RM'000 50,000 25,000 75,000 REQUIRED: 1,000,000 shares were issued at RM15 per share on 1 February 2022. Share issue expense was RM100,000. A cash dividend of RM1 per share on its outstanding shares was declared on 15 July 2022. The dividend was paid on 15 August 2022. Net income after tax in 2022 was RM3,600,000. Other comprehensive income after tax in 2022 was RM40,000. Prepare journal entries for the issuance of shares and for the dividend. Prepare the Statement of Changes in Equity for the year ended 31 December 2022. Below is a partial Statement of Financial Position of Malika Bhd as at 31 December 2021: Malika Bhd Partial Statement of Financial Position As at 31 December 2021 i. ii. As at 31 December 2021, Malika Bhd had 5,000,000 shares outstanding. During 2022, the following transactions took place: iii. iv. Equity: Contributed share capital Retained earnings Total equity (a) (b) RM'000 50,000 25,000 75,000 REQUIRED: 1,000,000 shares were issued at RM15 per share on 1 February 2022. Share issue expense was RM100,000. A cash dividend of RM1 per share on its outstanding shares was declared on 15 July 2022. The dividend was paid on 15 August 2022. Net income after tax in 2022 was RM3,600,000. Other comprehensive income after tax in 2022 was RM40,000. Prepare journal entries for the issuance of shares and for the dividend. Prepare the Statement of Changes in Equity for the year ended 31 December 2022.

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a Journal Entries i Issuance of Shares textCash 1000000 shares RM15 quad 15000000 textContributed Sh... View the full answer