A Ltd. has an authorised capital of$10,00,000 divided into 1,00,000 equity shares of $ 10 each. It offered 70,000 equityshares for public subscription. The public applied for 66,500 shares. Till 31st March 2015,$10 per share was called which was fully paid up by the shareholders. Show the 'ShareCapital' in the Balance Sheet of the company as per Schednle III, Part I of the CompaniesAct, 2013. Also prepare 'Notes to Accounts'.

ARTICULARS NOTE NO. DETAILS A EQUITY AND LIABILITIES 1. Shareholders’ funds (a) Share…

Answered: A Ltd. has an authorised capital of…

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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Bradley Corporation issued 10,000 shares of common stock on January 1, 2013. The stock has par value of $0.01 per share and was sold at $25 per share. The journal entry for this transaction would: a. Credit Cash $250,000 and debit Paid-in capital $250,000 b. Credit Cash $250,000, debit Common stock $100, and debit Paid-in capital $249,900 c. Debit Cash $250,000, credit Common stock $100, and credit Paid-in capital $249,900 d. Debit Cash $250,000, credit Paid-in capital $100, and credit Common stock $249,900
A company was formed on 1 March 2018 with an authorized capital of OMR 5 million divided into common stock of OMR1 each. The company came up with an Initial Public Offer IPO by issuing 2 million equity shares at OMR 1 each. The amount of Share capital account to be shown on the balance sheet at the end of the year 31st December 2018 assuming that IPO is under subscribed by the public was 1,800,000 as on 31st December 2018. a. The IPO should be cancelled as per Oman Commercial Companies Law b. OMR200,000 c. OMR2,000,000 d. OMR1,800,000\\
Madihlaba Ltd had the following capital structure at 30 June 2014, its prior reporting date:Share type Number of sharesClass A shares (issued at R1 each) 1 000 000Class B shares (10% cumulative dividend) issued at 50c each 400 000During the period ending 30 June 2015, the entity issued 300,000 new Class A shares to the existing shareholders as capitalization shares on 1 January 2015, and issued a further 200,000 Class A shares at their fair value of R2 each on 1 April 2015.The following extract was obtained from the statement of changes in shareholders’ equity:30/6/2015 30/6/2014R'000 R'000Retained income opening balance 3 080 2 000Profit/(Loss) for the period 1 700 1 400Less: Class B dividends (20) (20)Less: Class A dividends (450) (300)Retained income closing balance 4 310 3 080REQUIRED:3.1 Calculate basic earnings OR earnings attributable to ordinary shareholders for 2015. 3.2 Calculate the Weighted Average Number of Ordinary Shares (WANOS). 3.3 Hence calculate the Basic Earnings…
4. How much is the TOTAL share premium? 5. How much is the TOTAL treasury share capital? 6. How much is the Retained earnings, END?
On January 1, Sheridan Enterprises had 96,000 no-par ordinary shares issued and outstanding. The shares have a stated value of €5 per share. During the year, the following occurred. Apr. 1 June 15 July 10 Dec. 1 15 Issued 25,000 additional ordinary shares for €15 per share. Declared a cash dividend of €1 per share to shareholders of record on June 30. Paid the €1 cash dividend. Issued 2,700 additional ordinary shares for €20 per share. Declared a cash dividend on outstanding shares of €1.30 per share to shareholders of record on December 31. Prepare the entries to record these transactions. (If no entry is required, select "No entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit
6. On December 31, 2015, the shareholders' equity sections of R U B Corporation reflected the following: (see attached image for the given. Someone already answer letter a so please answer letter b to d. Please answer it all. thank you so much!) On February 1, 2016, the Board of directors declared 10% stock dividends to be issued April 30, 2016. The market value of the stock on February 1 was P18. Direction: b) Prepare the shareholders’ equity section immediately after the stock dividend was declared. c) Compare with the accounts and figures given above and explain the effects of this stock dividend on the a) assets, b) liabilities, and c) shareholders' equity. d) Prepare again the shareholders' equity immediately after the stock dividend was distributed. Compare the accounts against no 1 above and explain the effects of this distribution on the a) assets, b) liabilities, and c) shareholders' equity.
Bizarre Company acquired 6,000 shares with P1 par value at P36 per share. During 2012, the entity issued 3,000 of these shares at P50 per share. The cost method is used in accounting for treasury shares. What accounts and amounts should be credited to record the issuance of the 3,000 shares? a. Share capital for P6,000, share premium for P102,000, and retained earnings for P42,000. b. Share capital for P6,000 and share premium for P144,000. c. Treasury shares for P108,000 and share premium for P42,000. d. Treasury shares for P108,000 and retained earnings for P42,000.
Cool Company has decided to take their company public on January 1, 2014. Cool company had 1,000 shares authorized. The following transactions occurred. c.) On March 30, 2015, Cool company declared a dividend of $1 per share. Record the journal entry for this transaction. Label debits and credits and include classification of each account. d.) on April 30, 2015, cool company paid the dividend to shareholders. Record the journal entry for the dividend payment. Label debits and credits and include classification of each account.
JKL Corp. reported the following amounts in the shareholders' equity section of its December 31, 2015, statement of financial position: Preference shares, P10 par (100,000 shares authorized, 40,000 shares issued) P400,000 Ordinary shares, P5 par (50,000 shares authorized, 20,000 shares issued) 100,000 Share premium – Ordinary shares 192,000Accumulated profits 1,200,000 The following transactions occurred during 2016: At the beginning of 2016, the company…
Please do the journal entries. Thank you!

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