Required: 1. Prepare the ordinary share capital account for the year. Prepare the Retained Earnings account for the year.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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On 1 January 2021, Jasmine Bhd's capital structure was as follows:
RM
120,000
192,000
Ordinary share capital 80,000 units of shares
Retained Earnings
In March the company made a rights issue of I share for every 2 held at RM2.00 per
share. This was fully taken up. In July the company made a bonus issue of 1 share for
every 6 held at RM1.50 per share, using the retained account to finance this issue. An
interim dividend of RM0.03 per share was paid on 30 September 2021. All transaction
was through the bank.
Required:
1. Prepare the ordinary share capital account for the year.
11 Prepare the Retained Earnings account for the year.
A
Transcribed Image Text:On 1 January 2021, Jasmine Bhd's capital structure was as follows: RM 120,000 192,000 Ordinary share capital 80,000 units of shares Retained Earnings In March the company made a rights issue of I share for every 2 held at RM2.00 per share. This was fully taken up. In July the company made a bonus issue of 1 share for every 6 held at RM1.50 per share, using the retained account to finance this issue. An interim dividend of RM0.03 per share was paid on 30 September 2021. All transaction was through the bank. Required: 1. Prepare the ordinary share capital account for the year. 11 Prepare the Retained Earnings account for the year. A
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