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
- Legislation Assignment, OUM, Malaysia What is the Factory and Machine Act 1967? Why was the promulgation of this Act necessary? Who is the enforcement authority
- Information Technology Assignment, APU, Malaysia List and explain the IT hardware requirements needed in each branch to allow communication between each office
- ECO162: Microeconomic Assignment, UITM, Malaysia Students are required to find out pertinent current issues through newspaper articles, published journals, academic magazines et cetera
- BBF201/03: INTRODUCTION TO FINANCIAL MANAGEMENT Assignment, WOU, Malaysia You are a manager who work at finance department of AVILLION BERHAD in Malaysia. You are interested to analyse the core principles of finance
- SBFS1103:Thinking skills and problem solving assignment, Your Father-in-law has Just Passed Away and Your Spouse wants his/her Mother ,OUM Example Malaysia
- BIT2133: Programming Concepts Course Work, UOC, Malaysia Students MUST keep a copy of all submitted work for reference purposes prior to the original being handed in and returned
- BUSN6120: Managerial Economics Course Work, UNM, Malaysia Based on the concept of Porter’s five forces Model existing level of competitive rivalry in the industry
- BEO1106 Business Statistics Case Study, VU, Malaysia you are required to conduct a regression analysis to estimate the relation between Number of Rooms and Advertised Price
- BMG323: Based on the distribution, compute (by formula) the average and standard deviation for: Business analytics Assignment, WOU, Malaysia
- MAT1830: Discrete mathematics for computer science Assignment, MUM, Malaysia The Corruption Perceptions Index uses perceptions of the general public, business people