Question

company makes a rights issue of 150,000 shares of $1 at a price of $1.50. how to record rights issue?

Answer 1

Bank a/c
Share Capital a/c
Share Premium a/c

Answer 2

Hi do you count those?

Answer 3

Wouldn't you just multiply 150, 000 by 1.5?

Answer 4

Are you sure?

Answer 5

do u need the ledger entry

Answer 6

No.

Answer 7

Well if the 150, 000 shares are $1 each and they make them $1.50, then it would be 150, 000 shares of $1.50, or 150, 000 X 1.5

Answer 8

https://thol.sunway.edu.my/examdbase/alv/acc/p1/acc_p1_j08.pdf#_=_
What about this? For question 19

Answer 9

Mind helping me out with the answer?

Answer 10

@cj49 help please?

Answer 11

i guess its A m not sure tho..

Answer 12

Yeah you're right. Can you tell me how do you get that?

Answer 13

do u now what does Share Premium and Revenue reserves mean

Answer 14

Yeah . I do I just don't know how to work the figures out.

Answer 15

200+80+160=440
they issued more 1000000 shares of 1$ each at 1.40 per share=140
440+140=580
the actual price was 1$ but they issued it at 1.40$ therefore 40 would be the share premium
580-40=540
if ull look at the options then ull figure it out the A fits the situation

Answer 16

Why is it $500000 ordinary share capital? How did you split it?

Answer 17

the total sum is 580 out of that 40 wud be share perimium so we are now left with 540 so option B and C wud get eliminated bc in B the share premium is 80 and in C its nil and in option D the total would sum up to 620 i.e540+40+40=620...thats why A had to be the right ans

Answer 18

I see there thanks man you're really good at explaining. :) don't mind helping me out with question 30? https://thol.sunway.edu.my/examdbase/alv/acc/p1/acc_p1_j08.pdf#_=_

Answer 19

i guess its B

Answer 20

Yes bingo! How?

Answer 21

lol....1000x12=12000
2000x4=8000
total 20000 now they have asked what does the company should do to increase the PROFIT by 10000=20000+10000=30000
i guess u need to solve this 30 ques in 60 min so they wnt give u problems which wud consume more than 2min.
in option A 30% increase in X wud gve=1300x12 u dun need to calculate this bc its just an increase of 300x12=3600
But in option B its 500x12=6000 and 1000x4=4000=10000

Answer 22

Ahh, okay. JUSt realize that my lecturer haven't touched this topic yet. Anyways thanks! You're really good in accountings. By any chance are you doing ACCA?

Answer 23

thanks..mt dad is a Chartered Accountant so i Audit reports and other stuffs foh him

Answer 24

my*

Answer 25

I see. :)

Answer 26

c:

Answer 27

I think I might have more accounting questions to clarify and all I'm not sure if you could help me out with those next time? Hope that it's not too troublesome

Answer 28

lol nopes... do tag me ill be der...

Answer 29

Thankss! I'm really grateful! Haha. It's really difficult to find an accounting student here.

Answer 30

anytime...lol..yeah if m offline then just pm the problem ill revert back when ill see it

Answer 31

Alright. :)

Answer 32

c: