the financial year to June 30, 2021, HiFi Ltd issued options for 400,00 riod, the average fair value of one ordinary share was $32 while the e der option was $26. The company commençed the financial year with ssue, while profit for the year amounted to $921,000.
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- In the financial year to June 30, 2021, HIFI Ltd issued options for 400,000 shares. During that perlod, the average fair value of one ordinary share was $32 while the evercise price for the shares under option was $26. The company commenced the financial year with 940,000 ordinary shares in issue, while profit for the year amounted to $921.000. REQUIRED: Calculate BEPS and DEPS for the year.Delta NV has share capital of $l m in shares of $0.25 each. At 31 May 2019 shares had a market value of $1.1 each. On 1 June 2009 the company makes a rights issue of 1 share for every 4 held at $0.6 per share. Its profits were $500,000 in 2019 and $440,000 in 2018. The year-end is 30 November. Required: Calculate (a) the theoretical ex-rights price; (b) the bonus issue factor; (c) the basic earnings per share for 2018; (d) the basic earnings per share for 2019.4. ABC Co. issued a prospectus for the issue of 900,000shares at $6 per shares on 1 January 2019. The prospectus specified that $3.50 was payable on application, a further $1.25 was payable on allotment and the final $1.25 was payable at call. On 31 January 2019 ABC issued 300,000 shares. On 31 May 2019, the company made the call for the outstanding balance of $1.25 per share. The call was payable by 30 June 2019. At 30 June 2019, the call on 30,000 shares remained unpaid. Instructions: a) Prepare the journal entries to account for the issue of shares for ABC and b) The Share Capital that would appear in the Balance Sheet of ABC Co.
- 4. ABC Co. issued a prospectus for the issue of 900,000shares at $6 per shares on 1 January 2019. The prospectus specified that $3.50 was payable on application, a further $1.25 was payable on allotment and the final $1.25 was payable at call. On 31 January 2019 ABC issued 300,000 shares. On 31 May 2019, the company made the call for the outstanding balance of $1.25 per share. The call was payable by 30 June 2019. At 30 June 2019, the call on 30,000 shares remained unpaid.Instructions:a) Prepare the journal entries to account for the issue of shares for ABC andb) The Share Capital that would appear in the Balance Sheet of ABC Co.4. ABC Co. issued a prospectus for the issue of 900,000shares at $6 per shares on 1 January 2019. The prospectus specified that $3.50 was payable on application, a further $1.25 was payable on allotment and the final $1.25 was payable at call. On 31 January 2019 ABC issued 300,000 shares. On 31 May 2019, the company made the call for the outstanding balance of $1.25 per share. The call was payable by 30 June 2019. At 30 June 2019, the call on 30,000 shares remained unpaid.Instructions:b) The Share Capital that would appear in the Balance Sheet of ABC Co. (2marks)Alpha company reported the following equity accounts on January 1, 2020. Share capital, P20 par, P8,000,000; Share premium, P2,750,000; Retained earnings, P1,275,000. All shares outstanding on January 1 were issued for P26 a share. On December 31, the entity reacquired 20,000 shares at P24 a share and retired them. What is the balance of the share premium?
- Maxi Berhad offered 1 million ordinary shares for issue to public on 1 January 2019 at an issue price of RM1.50 per share. A total amount of RM3,000,000 was received from the applicants on 30 November 2019. The oversubscription of RM1,500,000 was returned to unsuccessful applicants on 20 December 2019. On 31 March 2020, Maxi Berhad declared a 3 for 2 bonus issue. Extract of Maxi Berhad's balance sheet prior to issuance of bonus shares is as follows: RM Ordinary Share Capital Revaluation Reserve 1,500,000 1,500,000 5.000,000 8,000,000 Retained Profits Required:- State the journal entries required to account for the above transactions and prepare extract of the balance sheet after bonus issue.In January 2019, ABC Limited called for subscriptions for 12 millions of shares. The issue price per share was $1.0 to be paid in four parts, these being $0.4 on application, $0.3 in the first call on 31 March, $0.20 in the second call on 31 July and $0.10 in the third call on 30 September. Required Provide the accounting entries to record the issue of ABC Limited’s shares. (BY HAND, not by excel)Alpha company reported the following equity accounts on January 1, 2020. Tpoint hare capital, P20 par, P8,000,000; Share premium, P2,750,000; Retained earnings. P1,275,000. All shares outstanding on January 1 were issued for P26 a share. On December 31. the entity reacquired 20,000 shares at P24 a share and retired them. What is the balance of the share premium?
- In January 2019, ABC Limited called for subscriptions for 12 millions of shares. The issue price per share was $1.0 to be paid in four parts, these being $0.4 on application, $0.3 in the first call on 31 March, $0.20 in the second call on 31 July and $0.10 in the third call on 30 September. RequiredProvide the accounting entries to record the issue of ABC Limited’s shares.On 1 May 20X4 XYZ invests in 110 call options for Fantasy Travel Limited shares. The options have an exercise price of $59 per share and will expire on 30 April 20X6. Price for each option is $9. Fantasy Travel Limited’s shares price on 1 May 20X4 is $63. The balance sheet date for XYZ Ltd is 30 June. XYZ Ltd accounts for its financial instruments using fair value through profit and loss. Other data Date Share Price Option Price 30 June 20X4 67 20 30 June 20X5 82 24 What is the value of the options on 30 June 20X5?Sintok Niaga Bhd issues 40,000 shares at RM1 each during the year ended 31 December 2019. The applications are received with full payment on October 31, 2019 for 100,000 shares. The shares are subsequently allotted on December 31, 2019 to the successful applicants, while unsuccessful applicants are refunded at the same date. Show the journal entries to record the transactions. Maxwell had the following transactions pertaining to its ordinary shares during the first year of operations. Jan 10 Issued 80,000 shares for cash at RM6 per share. Mar 1 Issued 5,000 shares to lawyer in payment of a bill for RM40,000 for services rendered in helping the company to incorporate. July 1 Issued 30,000 shares for cash at RM8 per share. Sep 1 Issued 60,000 shares for cash at RM10 per share. REQUIRED: Prepare the journal entries to record the transactions.