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
- Research Skills for International Business Assignment, TU, Malaysia Critically discuss how you might sample and collect qualitative data to assist you in achieving your research question
- Stakeholder Management Assignment, LUC, Malaysia The concessionaire of the proposed Petaling Jaya Dispersal Link is seeking a listing on Bursa Malaysia via the reverse takeover
- Supply Chain Management Case Study, UUM, Malaysia Provide the operational definition of the supply chain in the context in which your organization and its supply chain operate
- CT087-3-3: Using any concurrent programming language, simulate a Flight Control System: Real Time System Assignment, APU, Malaysia
- Managing Organizational Health Essay, UWS, Malaysia At first sight, the concept of measuring and managing business performance is straightforward not necessarily easy
- CSC508: Data Structure Assignment, UiTM, Malaysia Define your own Binary Search Tree (BST) data structure using Linked List
- Unit 1 Assignment – Financial For Business
- Describe how theories of speech and language development explain the emergence of communication: language development, Essay, Malaysia
- 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
- MGT506: Leadership & Organizational Behavior Assignment, NUN, Malaysia Venus Tyres is a major regional player in the motorcycle industry with operations in five countries in South East Asia