The Statement of Financial Positions extract for Stormy Bhd. is as follows: Stormy Bhd. Statement of...

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The Statement of Financial Positions extract for Stormy Bhd. is as follows: Stormy Bhd. Statement of Financial Positions as at 31 December 2018 Net Asset Investment Bank Issued and paid up capital 30,000,000 ordinary shares Reserves Retained earning Non-current liability 10,000,000 8% redeemable preference shares of RM2 each RM 40,100,000 10,000,000 Instruction: a) b) 12,900,000 63.000.000 33,000,000 10,000,000 20,000,000 63.000.000 The company decided to redeem half of its issued 8% redeemable preference share on 1st January 2019. To finance the redemption, the company will utilise 70% of retained earning account to the contributed capital and the balance through issuance of 2 million fresh ordinary share at RM1.50. Prepare the journal entries to record the above transactions Prepare a Statement of Financial Positions extract after the completion of the Redemption. The Statement of Financial Positions extract for Stormy Bhd. is as follows: Stormy Bhd. Statement of Financial Positions as at 31 December 2018 Net Asset Investment Bank Issued and paid up capital 30,000,000 ordinary shares Reserves Retained earning Non-current liability 10,000,000 8% redeemable preference shares of RM2 each RM 40,100,000 10,000,000 Instruction: a) b) 12,900,000 63.000.000 33,000,000 10,000,000 20,000,000 63.000.000 The company decided to redeem half of its issued 8% redeemable preference share on 1st January 2019. To finance the redemption, the company will utilise 70% of retained earning account to the contributed capital and the balance through issuance of 2 million fresh ordinary share at RM1.50. Prepare the journal entries to record the above transactions Prepare a Statement of Financial Positions extract after the completion of the Redemption.

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A Journal Ent ries 1 January 1 2019 Deb it Pre ference Shares Red eem ... View the full answer