Question Four 15 Mark Limited Was Incorporated On 1 January 2019 Authorised Share Capital Was 1 000 000 Ordinary Sha 1 (146.5 KiB) Viewed 32 times
Question Four 15 Mark Limited Was Incorporated On 1 January 2019 Authorised Share Capital Was 1 000 000 Ordinary Sha 2 (100.72 KiB) Viewed 32 times
QUESTION FOUR [15] Mark Limited was incorporated on 1 January 2019. Authorised share capital was: 1 000 000 ordinary shares, and 500 000 8% preference shares. By 31 July 2019, Mark Limited had the following in issue: 500 000 ordinary shares, .R500 000 ordinary share capital, and 250 000 8% preference shares.. R500 000 preference share capital All the above have been recorded correctly. During the period 1 January 2020 to 30 June 2020 the following issue of shares took place. 2020 250 000 ordinary shares were advertised and offered to the public at a 17 Jan price of R1,00 each. 50 000 8% preference shares were also offered to the public at R2,00 each. The offer expires on 30 April 2021. These offers were underwritten by Badge Finance for a commission of 4,5% 30 April Applications were received from the public for 230 000 ordinary shares and 49 000 8% preference shares. 20 May Shares were allotted to the public as well as the Underwriter. 31 May The account with the Underwriter was settled. 2 June Share issue expenses of R12 500 were paid.
BACHELOR OF COMMERCE YEAR 1 - ACADEMIC AND ASSESSMENT CALENDAR - DISTANCE Required: Record the above transactions in the general journal relating to the above issues of both the ordinary shares and preference shares Narrations are not required (15)
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