QUESTION 4 The balances following balances are extracted from the book of MCCV Berhad at 1 January 2019. RM Issued and paid up ordinary shares capital (2,000,000 units) 2,000,000 Retained earnings 900,000 The following transactions occurred during the year ended 31 December 2019: i) Profit for the year ended 31 December 2019 was RM1,500,400. ii) On 20 February, the company made a rights issue of 2 ordinary share for every 10 existing ordinary shares held at RM1.50 per share. All shareholders exercised their right iii) On 1 May 2019, the company made an additional issuance of 500,000 ordinary shares at RM1.25 per share. Total applications received were 600,000 ordinary shares. 500,000 ordinary shares were allotted and the excess applicants’ monies were refunded. iv) On 18 September 2021, the company had raised additional capital through an issuance of 800,000 9% debentures at par value. v) On 10 October, a bonus issue of 4 share for every 10 shares held was made. This bonus issue was done by utilising the retained earnings account. Only existing ordinary shareholders as at 31 January 2019 are entitled to this bonus. vi) As at year ended 31 December 2019, a final dividend of RM0.22 per share was declared. Only ordinary shareholders as at 28 February 2019 are entitled to this dividend. This dividend remains unpaid as at 31 December 2019. Required: a) Prepare the following in accordance to the Companies Act 2016: i) Statement of Changes in Equity of Mumbo Bhd for the year ended 30 June 2021. ii) Journal entries for item (i) to (vi)
QUESTION 4
The balances following balances are extracted from the book of MCCV Berhad at 1 January 2019.
RM
Issued and paid up ordinary shares capital (2,000,000 units) 2,000,000
The following transactions occurred during the year ended 31 December 2019:
i) Profit for the year ended 31 December 2019 was RM1,500,400.
ii) On 20 February, the company made a rights issue of 2 ordinary share for every 10 existing
ordinary shares held at RM1.50 per share. All shareholders exercised their right
iii) On 1 May 2019, the company made an additional issuance of 500,000 ordinary shares at
RM1.25 per share. Total applications received were 600,000 ordinary shares. 500,000
ordinary shares were allotted and the excess applicants’ monies were refunded.
iv) On 18 September 2021, the company had raised additional capital through an issuance of
800,000 9% debentures at par value.
v) On 10 October, a bonus issue of 4 share for every 10 shares held was made. This bonus
issue was done by utilising the retained earnings account. Only existing ordinary
shareholders as at 31 January 2019 are entitled to this bonus.
vi) As at year ended 31 December 2019, a final dividend of RM0.22 per share was declared.
Only ordinary shareholders as at 28 February 2019 are entitled to this dividend. This
dividend remains unpaid as at 31 December 2019.
Required:
a) Prepare the following in accordance to the Companies Act 2016:
i) Statement of Changes in Equity of Mumbo Bhd for the year ended 30 June 2021.
ii)
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