Maxi Berhad offered 1 million ordinary shares for issue to public on 1 January 2019 at...

 

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Maxi Berhad offered 1 million ordinary shares for issue to public on 1 January 2019 at an issue price of RM1.50 per share. A total amount of RM3,000,000 was received from the applicants on 30 November 2019. The oversubscription of RM1,500,000 was returned to unsuccessful 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 issuance of bonus shares is as follows: RM Ordinary Share Capital Revaluation Reserve 1,500,000 1,500,000 5.000.000 8,000,000 Retained Profits Required:- State the journal entries required to account for the above transactions and prepare extract of the balance sheet after bonus issue. Maxi Berhad offered 1 million ordinary shares for issue to public on 1 January 2019 at an issue price of RM1.50 per share. A total amount of RM3,000,000 was received from the applicants on 30 November 2019. The oversubscription of RM1,500,000 was returned to unsuccessful 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 issuance of bonus shares is as follows: RM Ordinary Share Capital Revaluation Reserve 1,500,000 1,500,000 5.000.000 8,000,000 Retained Profits Required:- State the journal entries required to account for the above transactions and prepare extract of the balance sheet after bonus issue.

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Tatel amount necaived Exceps amount nehomed ferom Tatal shones iqued Rm 15o000 from Application RM ... View the full answer