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Question 1 Mekar Niaga Bhd (Mekar Niaga) is an oil and gas company which is authorised to issue 10,000,000 Ordinary shares and 1,000,000 Preference shares. Balances of owner equity accounts as at 31 December 2013 are as follows: RM Ordinary shares 1,000,000 10% Preferred shares 500,000 Share premium 45,000 Retained earnings 2,450,000 On 1 January 2014, Mekar Niaga made a public offering of 500,000 units of ordinary shares at the price of RM2.10 per share.The company also offered 100,000 units of 10% preferred shares at RM10 per share.All of the shares issued were taken up and fully paid by 31 January. The par value of the ordinary share and the preferred share of Mekar Niaga are RM1.00 and RM10.00 each, respectively. On 31 December 2014, the board of directors announced dividends to the preferred shareholders and 5% to the ordinary shareholders. The company made RM534,000 net profit for the current year. REQUIRED: a) Prepare journal entries for the above transactions.
Management is disappointed with the company's performance and is wondering what can be done to improve profits. By examining sales and cost records, you have determined the following:
Construct a tab two-way le for this situation and hence, or otherwise, find the probability that a borrower defaulted on a car loan of unknown value
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Prepare the operating activithe ties section of statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
The fund waits until the price adjusts, how many shares can be purchased? What is the gain to such illegal trades? Assume 5,000 shares are outstanding.
At the time of the conversion, the unamortized premium is $2,000, the market value of the bonds is $110,000, and the stock is quoted on the market at $60 per share. If the bonds are converted into common, what is the amount of paid-in capital in e..
The allocated general overhead represents fixed costs of the entire company, none of which would be avoided if the part were purchased instead of produced internally. If management decides to buy part 114 from the outside supplier rather than to c..
Josephine is considering taking a 6-month rotation in Paris for her job. Which type of authority may be especially helpful in determining the tax consequences of Josephine's job in Paris?
Last year, Abby loaned Pat $10,000 as a gesture of their friendship. Although Pat had signed a note payable that contained interest payments and a maturity date, the loan had not been repaid this year when Pat died insolvent.
cecil c. seymour is a 646-year-old widower. he had income for 2013 as followspension from former employer 39850interest
The incremental borrowing rate for the lessee is 10%; the lessor's implicit rate is 8% and is known by the lease. The present value of an annuity due of 1 for six years at 10% is 4.79079. The present value of an annuity due of 1 for six years at 8..
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