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You are reguired to prepare the journal entries to record all the transactione

You are reguired to prepare the journal entries to record all the transactione

FINANCIAL ACCOUNTING
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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Sdn Bhd was re corded with an authorized capital of 200,000 1% preference shares of RMI.00 each and 1,000,000 ordinary shares of KM2.00 each. On 30 October 2016, Board of Directors decided to offer and issue 250,00o ordinary shares f RM 2.00 cach at the price of RM2-30 . The payment for the issuance of shares were as follows : 1. Energy On application on allotment RM 0.60 AmmO-70 Cincludlng premium) on 1t call RMO T0 On and call RMo.30 On the last day of application, 400,006 shares application were recetved and Board of Directors decided to regect 100,000 msuccessful shares and the money will be refunded - The surplus money on application will be tranferred to the allotment account. All monies were duly collected upon application except for a sharehalder name Ammar with 10,000 shares has paid the 2nd call during the 1st call, and another shareholder name Amyra who has 3,000 shares failed to pay the 2nd cll money. You are required to prepare the journal entries to record al the transactions
Transcribed Image Text:Sdn Bhd was re corded with an authorized capital of 200,000 1% preference shares of RMI.00 each and 1,000,000 ordinary shares of KM2.00 each. On 30 October 2016, Board of Directors decided to offer and issue 250,00o ordinary shares f RM 2.00 cach at the price of RM2-30 . The payment for the issuance of shares were as follows : 1. Energy On application on allotment RM 0.60 AmmO-70 Cincludlng premium) on 1t call RMO T0 On and call RMo.30 On the last day of application, 400,006 shares application were recetved and Board of Directors decided to regect 100,000 msuccessful shares and the money will be refunded - The surplus money on application will be tranferred to the allotment account. All monies were duly collected upon application except for a sharehalder name Ammar with 10,000 shares has paid the 2nd call during the 1st call, and another shareholder name Amyra who has 3,000 shares failed to pay the 2nd cll money. You are required to prepare the journal entries to record al the transactions
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