The equity section of the Balance Sheet of Radeon Ltd at the 30 June 2004 is...
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The equity section of the Balance Sheet of Radeon Ltd at the 30 June 2004 is as follows: EQUITY Share Capital Reserves Retained Profits TOTAL All shares are fully paid to $6.00 per share. On the 30th October 20X4 the company offers a 1:16 rights issue to all shareholders at a discount price of $5.72 per share. All but the holders of 30,000 shares take up the offer. All money is received and the share issue occurs on the 15th December 2014. DATE [ [ [ C [ Required Prepare the general journal entry/ies of Radeon Ltd to record the rights issue of shares. Show your workings i Narrations are not required. [ $12,000,000 989,600 1,243,650 $14,233,250 C C C [ C C DR J73 [ C [ 5 marks CR C [ [ [ [ [ The equity section of the Balance Sheet of Corgi Ltd at the 30th June 20X8 is as follows: EQUITY Share Capital Reserves Retained Profits TOTAL $1,400,000 121,760 98,720 $1.620.480 Share Capital is comprised as follows: 326,000 Ordinary shares all paid to $4.00 8,000 5% Preference shares issued at $12.00 each. On the 3rd April 20X9 the company made a bonus ordinary share issue on a 1:25 basis. The bonus shares are issued at the current paid up amount of the ordinary shares and from Retained Profits. Required Prepare the general journal entry/ies of Corgi Ltd to record the bonus share issue. Show your working: 4 marks Princess Ltd has issued share capital of $7,500,000 of Ordinary shares all paid to $15.00/share as at 30 June 20X2. During the year ended 30th June 20X3 the company had the following in relation to dividends: . On the 15th September 20X2 it paid the final dividend declared in the previous financial year amounting to $60,000. NOTE that all dividends are paid in cash and a Dividend Reinvestment Plan is not available. . . On the 10¹ February 20X3 it declared and paid an interim dividend of 6.5 cents per share. On the 28th June 20X3 it determined and declared a final dividend of 9.5 cents per share to be paid on the 31st August 20X3, Required Prepare general journal entries for all dividend transactions of Princess Ltd for the financial year ended 30 June 20X3. Narrations are not required. 9 marks The equity section of the Balance Sheet of Radeon Ltd at the 30 June 2004 is as follows: EQUITY Share Capital Reserves Retained Profits TOTAL All shares are fully paid to $6.00 per share. On the 30th October 20X4 the company offers a 1:16 rights issue to all shareholders at a discount price of $5.72 per share. All but the holders of 30,000 shares take up the offer. All money is received and the share issue occurs on the 15th December 2014. DATE [ [ [ C [ Required Prepare the general journal entry/ies of Radeon Ltd to record the rights issue of shares. Show your workings i Narrations are not required. [ $12,000,000 989,600 1,243,650 $14,233,250 C C C [ C C DR J73 [ C [ 5 marks CR C [ [ [ [ [ The equity section of the Balance Sheet of Corgi Ltd at the 30th June 20X8 is as follows: EQUITY Share Capital Reserves Retained Profits TOTAL $1,400,000 121,760 98,720 $1.620.480 Share Capital is comprised as follows: 326,000 Ordinary shares all paid to $4.00 8,000 5% Preference shares issued at $12.00 each. On the 3rd April 20X9 the company made a bonus ordinary share issue on a 1:25 basis. The bonus shares are issued at the current paid up amount of the ordinary shares and from Retained Profits. Required Prepare the general journal entry/ies of Corgi Ltd to record the bonus share issue. Show your working: 4 marks Princess Ltd has issued share capital of $7,500,000 of Ordinary shares all paid to $15.00/share as at 30 June 20X2. During the year ended 30th June 20X3 the company had the following in relation to dividends: . On the 15th September 20X2 it paid the final dividend declared in the previous financial year amounting to $60,000. NOTE that all dividends are paid in cash and a Dividend Reinvestment Plan is not available. . . On the 10¹ February 20X3 it declared and paid an interim dividend of 6.5 cents per share. On the 28th June 20X3 it determined and declared a final dividend of 9.5 cents per share to be paid on the 31st August 20X3, Required Prepare general journal entries for all dividend transactions of Princess Ltd for the financial year ended 30 June 20X3. Narrations are not required. 9 marks
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Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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