At 30 June 2014 the capital and reserves of Meredith, a limited liability company were Sm Share capital Ordinary shares of $1 each Share premium account 100 80 During the year ended 30 June 2015, the following transactions took place. -1 September 2014 A bonus issue of one ordinary share for every tvo held, using the share premium account. -1 January 2015 A fully subscribed rights iSsue of two ordinary shares for every tive held at that date, at $1 50 per share. What would the balances on each account be at 30 June 2015 A. Share Capital $210m, Share premium account $110m B. Share Capital $240m Share premium account $80m C. Share Capital $210m Share premium account 610m D. Share Capital $240m Share premium account $30m

At 30 June 2014 the capital and reserves of Meredith, a limited liability company were Sm Share capital Ordinary shares of $1 each Share premium account 100 80 During the year ended 30 June 2015, the following transactions took place. -1 September 2014 A bonus issue of one ordinary share for every tvo held, using the share premium account. -1 January 2015 A fully subscribed rights iSsue of two ordinary shares for every tive held at that date, at $1 50 per share. What would the balances on each account be at 30 June 2015 A. Share Capital $210m, Share premium account $110m B. Share Capital $240m Share premium account $80m C. Share Capital $210m Share premium account 610m D. Share Capital $240m Share premium account $30m

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Samra Ltd has 2 000 000 ordinary shares on issue at the beginning of the year, 1 July 2014. These shares were issued at $2.00 each and at the end of the period have a current market value of $4.50. On 1 August 2014, Samra Ltd bought back 600 000 ordinary shares originally issued at $2.50 for $3.00 each. On 1 November 2014, 500 000 shares were issued fully paid up at the current market value of these shares. On 1 March 2015, 200 000 partly paid-up ordinary shares were issued at an issue price of $3.50. These shares were partly paid to $2.00. The partly paid shares are permitted proportionate rights to vote and receive dividends based on the relationship between the amount paid up and the issue price. Based on the above information calculate: What is the weighted-average number of shares calculated in accordance with AASB 133? Calculate earnings per share. Write the complete formula and provide all the steps in details.
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Please explain .
Queenstown Corporation issues 4,000, $4 cumulative preferred shares at $80 each and 12,000 common shares at $18 at the beginning of 2022. Each preferred share is convertible into four common shares. During the years 2022 and 2023, the following transactions affected Queenstown Corporation's shareholders' equity accounts: 2022 Dec. 10 Declared and paid $12,000 of annual dividends to preferred shareholders. 2023 Dec. 10 Dec. 21 Required: a) b) Declared and paid the annual dividend to preferred shareholders and a $4,000 dividend to common shareholders. The preferred shares were converted into common shares. Journalize each of the 2022 and 2023 transactions. After the preferred shares are converted, what is the total number of common shares issued?
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Question(C) 1. On Septensber 1, 2015, Valdez Company reacquired 12,000 shares of ths$10par value ondinary shares for$15per share. Valdez uses the cost method to account for treasury shares. The joumal entry to record the reacquisition of the shares should debit a. Treasury Shares for$120,000. b. Share Capital-Ordinary for$120,000. c. Share Capital-Ordinary for$120,000and Share Premium-Ordinary for$60,000. 2. Long Co, issued 100,000 shares of$10par ordinary shares for$1,200,000. Long aequired 8,000 shares of its own shares at 515 per share. Three months later Long sold 4,000 of these shares at$19per share. If the cost method is used to record treasury shares transactions, to record the sale of the 4,000 treasury shares, Long should credit a. Treasury Shares for$76,000. b. Treasury Shares for$40,000and Share Premium-Treasury for$36,000. c. Treasury Shares for$60,000and Share Premium-Treasury Stock for$16,000. d. Treasury Shares for$60,000and Share Premium-Ordinary for$16,0003. Glavine…