Accounting Assignment, UM, Malaysia On 1 January 2021, the company decided to issue 200,000 preference shares and 2,000,000 ordinary shares at RM1.40
| University | Universiti Malaya (UM) |
| Subject | Accounting |
Question
The following balances were extracted from the book of Cold Bhd as of 31 December 2020:
On 1 January 2021, the company decided to issue 200,000 preference shares and 2,000,000 ordinary shares at RM1.40 and RM2 each respectively. The shares were fully subscribed and fully paid.
On 1 September 2021, the company decided to redeem all the redeemable preference shares. In order to facilitate the redemption of the preference shares, the company decided to issue 100,000 ordinary shares at RM1.40 The director of the company agreed that the redeemable preference shares will be redeemed partly by the issue of new shares and partly out of profits. All the reserves remain the same except that the current year’s net profit in 2021 was RM600,000.
On 1 June 2022, the company decided to issue a bonus share on the basis of 2 new ordinary shares for every 10 existing ordinary shares held in the year 2022. The directors decided to write off 40% of the bonus issue amount from the revaluation reserve and the remaining from other reserves.
On 1 December 2022, the company decided to make a rights issue of shares on the basis of 1 new ordinary share for every 20 existing ordinary shares held at the share price of RM1.80. The market price of the share was RM2 each. Assume that, all the reserves remain the same from the year 2022 except that the current year’s net profit in 2015 was RM550,000.
Stuck in Completing this Assignment and feeling stressed ? Take our Private Writing Services.
Get Help By Expert
Need help with your Accounting assignment? Assignment Helper MY is here to assist you. Whether you're tackling TMA, individual assignments, or group projects, our assignment helpers are here to guide you every step of the way. Need expert assistance with case study writing? Look no further. We specialize in BBM104: Principles Of Marketing Case Study and other subjects at Ut. From intricate topics like accounting assignments to the latest UM Malaysia updates, we've got you covered. Join our satisfied students who have excelled with our support. Get started and excel in your studies with our top-notch assignment writing services at UM!
Recent Solved Questions
- Marine science Thesis Proposal, UTM, Malaysia Fill a knowledge gap in comparing filter algorithms for classifying marine objects from UAV data
- MMP706: Project Management Assignment, AeU, Malaysia You are the project manager for your company’s MCP project. You are collaborating with your project team and business
- TA6434: Algorithm And Data Structure Assignment, UKM, Malaysia Write a menu-based program to create a list of records at least 3 data using the queue concept
- BBCM1023: The Role and Significance of Management Information Systems: Management Information System, Assignment 1, CU, Malaysia
- Leadership and Organizational Behavior Assignment, UiTM, Malaysia Which leadership approach/s would you personally employ or apply at work? why? This is an academic paper
- Anda dilantik sebagai wakil bagi negeri masing-masing dalam Persidangan Negara untuk mengetengahkan: Hubungan Etnik Assignment, TU, Malaysia
- CHE61504: Engineering Fluid Mechanics Assignment, TU, Malaysia Create the dimensionless relationship and design of the airport wind anemometer
- Management Decision Science (MDS) Assignment, MMU, Malaysia
- Management Decision Making Essay, UON, Malaysia How managers identify the information needed to make decisions and how that information is analyzed
- Accounting and Finance Assignment, SU, Malaysia Calculate goodwill on consolidation. Determine NCI on the acquisition date (b) Translate Statement of Financial Position of Zala Pvt Ltd
