On 1 January 2011 (date of incorporation) Technocrat Limited issued: 100 000 ordinary shares at...

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On 1 January 2011 (date of incorporation) Technocrat Limited issued: • 100 000 ordinary shares at R3,50 each. • 50 000 10% non-cumulative, non-redeemable preference shares at R2 each. • Half of the authorised ordinary and preference shares have been issued. The preference dividends are discretionary dividends. All preference dividends were declared and paid before year end with the exception of 2016, when the preference dividend was declared but not yet paid at 31 December 2016. Required: Provide all journal entries from the date of issue of the preference and ordinary shares to 31 December 2016. On 1 January 2011 (date of incorporation) Technocrat Limited issued: • 100 000 ordinary shares at R3,50 each. • 50 000 10% non-cumulative, non-redeemable preference shares at R2 each. • Half of the authorised ordinary and preference shares have been issued. The preference dividends are discretionary dividends. All preference dividends were declared and paid before year end with the exception of 2016, when the preference dividend was declared but not yet paid at 31 December 2016. Required: Provide all journal entries from the date of issue of the preference and ordinary shares to 31 December 2016.

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