GABSA Pty Ltd issued 6 000 000 units of ordinary shares at R4 per share on 30 June 2020 and the annual financial year ended on 31 July every year. The retained eamings on 31 July 2022 amounted to R24 000 000. On 30 December 2018, a resolution was passed by the company director in the board meeting declaring a capitalisation issue of two-thirds to the existing shareholder while the shares were trading at R4.20. The closing balance of retained earnings in the statement of changes in equity of GABSA Pty Ltd for the reporting period ended 31 July 2023 is 4 8 000 000 OB 24 000 000 OC. 7 200 000 OD 16 000 000

On 30 June 2020, the equity accounts of Punter Ltd consisted of:   Share capital 190,000 ordinary shares, issued at $2 each, fully paid $380,000 General reserve 30,000 Retained earnings 75,000     The following transactions and events occurred during the year ended 30 June 2021:   • On 1 October 2020, the directors issued a prospectus offering 40,000 ordinary shares at an issue price of $2.90, payable $2 on application and $0.90 at a future call. The closing date for application was 31 October 2020. The share issue was underwritten by Support Stockbrokers for a fee of $5,500, payable on 15 November 2020.   • By 31 October 2020, applications for 50,000 shares had been received.   • On 5 November 2020, the directors allotted the shares on a pro-rata basis, with applicants receiving 40,000 (80%) of their requested shares.   • On 9 November 2020, the company returned the money to unsuccessful applicants.   • On 15 November 2020, the underwriting fee was paid.   • On…

First Point Ltd commences operations by issuing 1 million shares at a price of $1.40 per share, payable in full on application. Application monies are received on 31 July 2023 and the shares are allotted on 4 August 2023. The share issue is made as a result of an offer being made to the public. Provide the journal entries to account for the receipt of the application monies and the subsequent allotment of the shares.

n 1 July 2021, Sydney Ltd issued a prospectus inviting applications for 500,000 ordinary shares, at an issue price of $8, payable $2.00 on application, $4 on allotment, and $2 on future call(s), dates to be determined by the directors. By 1 September 2021, applications were received for 520,000 shares with $2 paid per share. On 6 September 2021, the directors allotted 500,000 shares. Refunds were made to oversubscribed applicants. Share issue costs of $12,400 were also paid on the same date. All the allotment money was received by 1 October. On 1 December 2021, a final call for $2 was made. 480,000 shares call money were received by 4 January 2022.     Required: Prepare journal entries to record the above transactions (explanations are not required)

On 1 July 2021, Sydney Ltd issued a prospectus inviting applications for 400,000 ordinary shares, at an issue price of $7, payable $2.00 on application, $3 on allotment, and $2 on future call(s), dates to be determined by the directors. By 1 September 2021, applications were received for 420,000 shares with $2 paid per share. On 6 September 2021, the directors allotted 400,000 shares. Refunds were made to oversubscribed applicants. Share issue costs of $14,400 were also paid on the same date. All the allotment money was received by 1 October. On 1 December 2021, a final call for $2 was made. 380,000 shares call money were received by 4 January 2022. 0n 15 January 2021, all the shareholders who failed to pay the final call money Required: Prepare journal entries to record the above transactions (explanations are not required).

On 1 July 2020, Albany Ltd issued a prospectus inviting applications for 600,000 ordinary shares, at an issue price of $7, payable $2.00 on application, $3 on allotment, and $2 on future call(s), dates to be determined by the directors. By 1 September 2020, applications were received for 620,000 shares with $2 paid per share. On 6 September 2021, the directors allotted 600,000 shares. Refunds were made to oversubscribed applicants. Share issue costs of $12,400 were also paid on the same date. All the allotment money was received by 1 October. On 1 February 2021, a final call for $2 was made. 580,000 shares call money were received by 1 March 2021.   Required: Prepare journal entries to record the above transactions.

At 31 December 2019, B Plc had post-tax profits was $2,500,000 and had an issued share capital of $2,000,000 comprising 2,000,000 ordinary shares of 50p each and 1,000,000 $1 10% preference shares that are classified as equity. Assume that the post-tax profits for 2018 and 2019 were same at $ 2,500,000. The time-weighted number of shares was as follows: No. of Shares Shares (nominal value 50p) in issue at 01 January 2019 2,000,000 Shares issued for cash at market price on 30 September 2019 1,000,000 On 30 September 2019, B plc made a right issue of one share for every two shares (i.e one new share for every two shares held) at $3.25 per share. The following information is also given for B Plc as at 31 December 2019: Share option in existence 1,000,000 shares issuable in 2020 at $3.25 per share. An average market price per share of $4%; 1. Convertible 8% preference shares of $1 each totaling $2,000,000 convertible at one ordinary share for every five convertible preference shares. 2.…

At December 31, 2018, Western Corporation had 40,000 shares outstanding of $90 par value common stock. The shares were originally issued for $252 per share. On January 1, 2019, Pacific split its common stock 3 for 1 with a corresponding reduction in the stock's par value. After the split, the balance of the common stock paid-in-capital account is: 1. $18,000,000 2. $10,080,000 3. $10,800,000 4. $ 3,600,000

All of the following occurred in 2019. A Plc has 3,500,000 shares in issue on 1st January. On 1st April, a further 300,000 shares were issued in the market. Later in the year, on 1st November, the company bought back 100,000 shares. On the 10th December, a 3 for 1 stock split came into effect.  The net income for the year was €17,000,000 and the company paid €1,600,000 in preferred dividends. In the notes disclosures relating to granting of options and warrants: 1,050,000 Stock options, exercise price €30 900,000 Warrants, exercise paid €33 (the option and warrant exercise prices have been adjusted to reflect the stock split). Over the year, the company’s average share price was 40€. Calculate the basic and diluted EPS and show all your workings. If the company hadn’t issued stock options and warrants but had given equity upside through the preferred shares being convertible into 100,000 ordinary shares. What would the diluted EPS be now?

Queen Co. was formed on July 1, 2020. It was authorized to issue 300,000 shares of £40 par value ordinary shares and 100,000 shares of 8% £100 par value, cumulative and non-participating preference shares. Queen Co. has a July 1–June 30 fiscal year.The following information relates to the equity accounts of Queen Co. Ordinary SharesPrior to the 2022–2023 fiscal year, Queen Co. had 110,000 ordinary shares outstanding issued as follows.1. 85,000 shares were issued for cash on July 1, 2020, at £124 per share.2. On July 24, 2020, 5,000 shares were exchanged for a plot of land which cost the seller £280,000 in 2014 and had an estimated fair value of £880,000 on July 24, 2020.3. 20,000 shares were issued on March 1, 2021, for £168 per share. During the 2022–2023 fiscal year, the following transactions regarding ordinary shares took place.November 30, 2022Queen Co. purchased 2,000 of its own shares on the open market at £156 per share. Queen Co. uses the cost method for treasury…