enture ppti (Protected View View sore details. Enable Editing Question 1 Addo Ltd was formed on 1" January 2019 with 200,000 equity shares of no par value. The directors offered 100,000 shares for sale to the public under the following terms: February March GH¢1.50 payable on application GH¢0.75 payable on allotment GH¢0.25 payable on call April Applications were received for 180,000 shares and the directors made the issues as follows: Applications for the first 40,000 shares were allotted in full; - Next applicants for the 60,000 shares received two-thirds of application; - Next 20,000 shares applicants had 60% of application; - Next 20,000 shares applicants were allotted 40% of application; - The remaining applications were rejected All monies were duly received. Overpayments and payments by unsuccessful applications were duly dealt with (i.e. e application monies were refunded to unsuccessful applicants or set off against allotme partially successful applicants. Required: Prepare a statement showing over/under payment; e ledger entries to give effect to the above transaction; and yant statement of financial position extract. SERVICE

enture ppti (Protected View View sore details. Enable Editing Question 1 Addo Ltd was formed on 1" January 2019 with 200,000 equity shares of no par value. The directors offered 100,000 shares for sale to the public under the following terms: February March GH¢1.50 payable on application GH¢0.75 payable on allotment GH¢0.25 payable on call April Applications were received for 180,000 shares and the directors made the issues as follows: Applications for the first 40,000 shares were allotted in full; - Next applicants for the 60,000 shares received two-thirds of application; - Next 20,000 shares applicants had 60% of application; - Next 20,000 shares applicants were allotted 40% of application; - The remaining applications were rejected All monies were duly received. Overpayments and payments by unsuccessful applications were duly dealt with (i.e. e application monies were refunded to unsuccessful applicants or set off against allotme partially successful applicants. Required: Prepare a statement showing over/under payment; e ledger entries to give effect to the above transaction; and yant statement of financial position extract. SERVICE

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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* CengageNOWv2 | Online teachir X D2L Ch 16 Quiz - ACC 242 01 - Intern X com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Print Item Marco, Inc. determined the following information concerning its common stock during 2020: January 1 15,600 shares outstanding March 1 Issued a 3-for-1 stock split July 1 Issued 1,500 additional shares October 1 Reacquired 2,000 shares Required: What should Marco, Inc. use as the denominator for its basic earnings per share calculation for 2020? Round intermediate and final answer to the whole number. Weighted average number of common shares outstanding 47,050 X
Question 2 For the year ended 30 June 2020, Murray Ltd had a net profit after tax of $3,300,000. Details of the shares and other financial instruments outstanding are as follows: On 1 July 2019 Murray Ltd had 600,000 fully paid ordinary shares. • 300,000 fully paid ordinary shares were issued on 1 November 2019 at the prevailing market price. • 75,000 fully paid ordinary shares were bought back on 1 May 2020 at the prevailing market price. • 210,000 partly paid ordinary shares were issued on 1 May 2020 at a price of $6.00. The shares were partly paid to $4.50 and carried the right to participate in dividends in proportion to the amount paid as a fraction of the issue price. • For the entire year, 3 million $3.00 preference shares were held which provided a dividend at a rate of 5% per annum. • The preference shares are convertible at a rate of 1 ordinary share for every 4 preference shares. There are options to purchase 60,000 ordinary shares at a price of $15. For the year ended 30…
Aalwyn Ltd was incorporated with authorized share capital consisting of 800 000 10% preference shares of $ 2 each and 2 000 000 ordinary shares of N$1.50c each. 01 October 2019: The subscribers to the memorandum took and paid for 100 000 ordinary shares at par. During the year, 80% of the remaining ordinary shares and 500 000 preference shares were offered to the public as follows:  The ordinary shares were offered at a premium of 95c per share; and  The preference shares were offered at N$ 5.  01 March 2020: The offer for the subscription of shares opened to the public.  25 March 2020: The offer to the public was closed.  15 April 2020: Allotment of shares offered to public took place and all transactions with the underwriter were also concluded on this date. The issue is being underwritten for a commission of 8%. A total of 400 000 preference shares and 1 700 000 ordinary shares were applied for and the available shares were allotted and the necessary refunds made. The terms of…
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Quiz FART (Protected View) - Word PUTERI NUR AISYAH BINTI AZHAR FN File Home Insert Draw Design Layout References Mailings Review View Help O Tell me what you want to do Meranti Maju Bhd has the following equity balances at 31 December 2019. RM'000 Share Capital –Ordinary, 22,000,000 shares outstanding Retained Earnings Exchange Translation Reserve 47,300 283,800 5,350 During 2020, the following transactions occurred: Date Transactions 20 March Issued 1 million shares at a price of RM2.20 per share. The transaction cost related to the issuance of shares was RMO.15 per share. 30 September Declared a 2% share dividend to existing shareholders. The share dividend was distributed on the same date. The market price of share was RM2.40. 31 December Declared a cash dividend of RMO.50 per share on outstanding shares. Additional information: 1. 2. Profit for the year 2020 was RM12,000,000. Exchange translation loss recognized during the year 2020 was RM70,000. Required: (Round all figures to…
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