QUESTION I Below are the balances available for Delima Berhad as at 31 December 2015 Statement of Financial Position of Delima Berhad as 31 December 2015 RM 170,000,000 115,000,000 150,000,000 435,000,000 Non-current assets Current assets (except cash at hank) Cash at bank Issued share capital 100,000,000 ordinary shares Retained profits Non-current liability 50,000,000 5% redeemable preference shares Current liabilities Additional information: 100,000,000 3. To redeem 5% redeemable preference shares at a premium of 10% 240,000,000 55,000,000 20,000,000 435,000,000 On 1 January 2016, the directors decided on the following matters 1. To issue bonus shares of one (1) ordinary shares for every ten (10) shares held to the existing shareholders. 2. To repurchase 2,000,000 ordinary shares at RM1.50 each for cancellation ( 4 To issue 30,000,000 ordinary shares RM1. The application were subscribed Required: a) Prepare journal entries to record above transactions fully b) Prepare the extract of the Statement of Financial Position as at 31 December 2016
QUESTION I Below are the balances available for Delima Berhad as at 31 December 2015 Statement of Financial Position of Delima Berhad as 31 December 2015 RM 170,000,000 115,000,000 150,000,000 435,000,000 Non-current assets Current assets (except cash at hank) Cash at bank Issued share capital 100,000,000 ordinary shares Retained profits Non-current liability 50,000,000 5% redeemable preference shares Current liabilities Additional information: 100,000,000 3. To redeem 5% redeemable preference shares at a premium of 10% 240,000,000 55,000,000 20,000,000 435,000,000 On 1 January 2016, the directors decided on the following matters 1. To issue bonus shares of one (1) ordinary shares for every ten (10) shares held to the existing shareholders. 2. To repurchase 2,000,000 ordinary shares at RM1.50 each for cancellation ( 4 To issue 30,000,000 ordinary shares RM1. The application were subscribed Required: a) Prepare journal entries to record above transactions fully b) Prepare the extract of the Statement of Financial Position as at 31 December 2016
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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