ClipTech Bhd was incorporated with share capital of RM2,000,000 in 2020. The following balances were extracted from the book of ClipTech Bhd as at 30 June 2021:

RM

Bank 2,850,000

1,000,000 2% Preferences shares 2,000,000

3,000,000 Ordinary shares 3,200,000

Retained profits 1,200,000

Revaluation reserve 320,000

General reserve 200,000

1,400,000 5% redeemable preference shares 1,470,000

The following transaction took place during the year ended 30 June 2022 and 2023:

(i) On 1 August 2021, the company issued 2,000,000 ordinary shares at a price of RM1.50 each fully paid upon application. The ordinary shares were oversubscribed by 600,000. Any oversubscribed shares were refunded immediately.

(ii) On 10 January 2022, the directors offered to the public 1,500,000 2% preference shares at RM2 per shares. The issued shares were fully subscribed and paid.

(iii) On 1 July 2023, the company decided made a rights issue of share on the basis of one new ordinary share for every twenty existing ordinary shares held at the share price of RM1.20.

(iv) On 1 February 2023, the company decided to redeem all the 5% redeemable preference share. This amount will be redeem partly by issue 300,000 ordinary shares at RM1.30 and partly out of profits.

(iv) On 1 June 2023, the company decided to issue a bonus share on the basis of one new ordinary share for every ten existing ordinary shares held in the year 2023. The share price of the equity share was RM1.50.

(v) The current year net profit and loss for year ended 2022 and 2023 was RM240,000 (debit balance) and RM1,600,000 (credit balance) respectively.

You are required to prepare:

(a) Journal entry to record the above transactions

(b) Record the above transactions in the ledger accounts of Cold Bhd as follow:

i. Bank account.

ii. Ordinary shares account

iii. Preference shares account

iv. Retained profit account

v. Asset revaluation account

(c) Prepare an Extract of Statement of Financial Position as at 30 June 2022 and 2023

(50 marks)