The business becomes a publicly listed company - RMJ KidsRUs Ltd - with 1,500 outstandlngshares.The company decides to undertake another share issue.RMJ KidsRUs Ltd released a prospectus seeking 3,000 shares valued at $9 each. The prospectusrequired investors to pay $4 on application, $3 on allotment and $2 on call.The deadline for applications was 24 January. By this date, applications were received for 3,300shares. In dealing with this over-subscription, the company decided to refund the excess applicationmoney back to the unsuccessful applicants.The shares were allotted on 20 February with payment received on 17 March. A call was made on 3April and the call money was received on 23 April.On 1 May, RMJ KidsRUs Ltd announces a cash dividend of $0.90 per share to be distributed on 22May to shareholders on record at 19 May.Required:Journalise all the transactions represented by the events described above, including all relevantdates.Note: No explanations are required to accompany the journals.

Share sissued at discount: In the given question shares issued at PAR value of 9 which means there…

Answered: The business becomes a publicly listed…

The business becomes a publicly listed company - RMJ KidsRUs Ltd - with 1.500 outstanding shares. The company decides to undertake

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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This topic is about Corporation. Please answer the ff questions How much is the authorized share capital? How much is the issued share capital? How many shares of stock have been issued?
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