Top Cat Pte Limited On 1 April 20x0, the first day of the new financial year, Top Cat Pte Limited's share capital comprised 75,000 ordinary shares (issued and outstanding) with a paid-up capital of $750,000. Retained earnings was $150,000. During the year, the following transactions with owners occurred. Prepare the journal entries to record the following transactions. Where no journal entry is required, state why. -1 April 20x0 Issued 5,000 additional ordinary shares for $11 each. -1 June 20x0 Share registry dividend record date. -15 June 20x0 Declared a cash dividend of $1.50 per share to ordinary shareholders. -10 July 20x0 Paid the $1.50 cash dividend. -1 December 20x0 Issued 3,000 additional ordinary shares for $13 per share. -15 March 20x1 Share registry record date. -31 March 20x1 Profit before tax for the period was $340,000 and the company income tax rate is 17%. -31 March 20x1 Declared a cash dividend to ordinary shareholders of $1.80 per share. -As at 31 March 20x1, how many shares were issued and outstanding?
Top Cat Pte Limited
On 1 April 20x0, the first day of the new financial year, Top Cat Pte Limited's share capital comprised 75,000 ordinary shares (issued and outstanding) with a paid-up capital of $750,000.
Prepare the journal entries to record the following transactions. Where no
-1 April 20x0 Issued 5,000 additional ordinary shares for $11 each.
-1 June 20x0 Share registry dividend record date.
-15 June 20x0 Declared a cash dividend of $1.50 per share to ordinary shareholders.
-10 July 20x0 Paid the $1.50 cash dividend.
-1 December 20x0 Issued 3,000 additional ordinary shares for $13 per share.
-15 March 20x1 Share registry record date.
-31 March 20x1 Profit before tax for the period was $340,000 and the company income tax rate is 17%.
-31 March 20x1 Declared a cash dividend to ordinary shareholders of $1.80 per share.
-As at 31 March 20x1, how many shares were issued and outstanding?
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