Accounting Assignment, UM, Malaysia On 1 January 2021, the company decided to issue 200,000 preference shares and 2,000,000 ordinary shares at RM1.40
| University | Universiti Malaya (UM) |
| Subject | Accounting |
Question
The following balances were extracted from the book of Cold Bhd as of 31 December 2020:
On 1 January 2021, the company decided to issue 200,000 preference shares and 2,000,000 ordinary shares at RM1.40 and RM2 each respectively. The shares were fully subscribed and fully paid.
On 1 September 2021, the company decided to redeem all the redeemable preference shares. In order to facilitate the redemption of the preference shares, the company decided to issue 100,000 ordinary shares at RM1.40 The director of the company agreed that the redeemable preference shares will be redeemed partly by the issue of new shares and partly out of profits. All the reserves remain the same except that the current year’s net profit in 2021 was RM600,000.
On 1 June 2022, the company decided to issue a bonus share on the basis of 2 new ordinary shares for every 10 existing ordinary shares held in the year 2022. The directors decided to write off 40% of the bonus issue amount from the revaluation reserve and the remaining from other reserves.
On 1 December 2022, the company decided to make a rights issue of shares on the basis of 1 new ordinary share for every 20 existing ordinary shares held at the share price of RM1.80. The market price of the share was RM2 each. Assume that, all the reserves remain the same from the year 2022 except that the current year’s net profit in 2015 was RM550,000.
Get Help By Expert
Need help with your Accounting assignment? Assignment Helper MY is here to assist you. Whether you're tackling TMA, individual assignments, or group projects, our assignment helpers are here to guide you every step of the way. Need expert assistance with case study writing? Look no further. We specialize in BBM104: Principles Of Marketing Case Study and other subjects at Ut. From intricate topics like accounting assignments to the latest UM Malaysia updates, we've got you covered. Join our satisfied students who have excelled with our support. Get started and excel in your studies with our top-notch assignment writing services at UM!
Recent Solved Questions
- Discuss one of the emotion theories in psychology which exist and how nurses experience: Psychology and sociology for nurses Assignment, OUM, Malaysia
- DIT2154 Introduction to Web Development Individual Assignment August 2025 Session
- Financial Accounting & Reporting 3 Assignment, SU, Malaysia Foreign subsidiaries financial statements are generally prepared in the local currency of the country it is operates in
- Hubungan Etnik Assignment, UTN, Malaysia An alisisperanan nstitusi agama seperti masjid, tokong, gudhwaraataugerejauntukmengatasikonflik agama di Malaysia
- ITS63504: Human Computer Interaction Assignment, TU, Malaysia You are recently hired by Hilti and are appointed as an International IT Consultant cum UI-UX Designer at Hilti Corporation
- DOM6034: Corporate Finance Report, HU, Malaysia Mystery Ltd Statement of profit or loss and other comprehensive income for year ended 31 December
- Fundamentals Of Finance II Assignment, MUM, Malaysia Anwar owns 500 shares of frozen food Awesome Food Berhad which he purchased during the recession in January
- Operation Management Assignment, MU, Malaysia Discuss the concepts of operations input resources, transformation processes, and outputs
- BNBS 6114: Communication and Counselling Essay, LUC, Malaysia Communication is vital in improving health outcomes. Due to the new challenges posed by the COVID-19 pandemic
- Programming Paradigms Assignment, UiTM, Malaysia Form a group of a maximum of three (3) members and suggest a case study of any possible realistic scenario
