User Account

All Pages

Prepare the relevant journal entries to record the bonus

Assignment Help Accounting Basics
Reference no: EM133184351

Question - On January 1, 2021, the start of the current financial year, Rubble Led had in issue 48 million ordinary shares with a par value of $1.20 each. The company also had a retained earnings balance of $104.1 million, a revaluation reserve balance of $6.3 million, and a share premium balance of $19.8 million.

On May 1, 2021, the entity made a three for five bonus issue of shares, sparing retained earnings as much as possible.

The entity reported profit after tax of $18.2 million for 2020 and $21.6 million for 2021.

Required -

1. Prepare the relevant journal entries to record the bonus issue of shares.

2. Determine the EPS for 2021.

3. Determine the original and restated EPS for 2020.

Reference no: EM133184351

Questions Cloud

How much will the preferred and common stockholders receive : Basta bwisit, Inc., has P800,000 of 6% preferred stock and P1,200,000 of common stock outstanding, How much will the preferred and common stockholders receive
Stakeholders analysis and core competency : Stakeholders analysis and Core competency and internal strategic capabilities of Starbucks in terms as business strategy.
Economic analysis of spain : Economic Analysis of Spain. Infrastructure: Transportation and Communication Systems-modes/types, availability, usage rates
Determine amount of ivanna and sergio child : Ivanna earned $77,700 and incurred $10,525 of child care expenses. Determine amount of Ivanna and Sergio's child and dependent care credit
Prepare the relevant journal entries to record the bonus : The entity reported profit after tax of $18.2 million for 2020 and $21.6 million for 2021. Prepare the relevant journal entries to record bonus issue of shares
Calculate the cost of the marginal bad debts to the firm : Sales are currently 30,000 units, the selling price is $20 per unit, and the variable cost per unit is $15. Calculate the cost of the marginal bad debts
Analyze credible economists opinions : Analyze credible economists' opinions on the success or failure of the intervention that you chose in achieving its objectives.
Women bear disproportionate burden in agrarian system : Women bear a disproportionate burden in the agrarian system of sub-Saharan Africa, Asia and Latin America. In addition, their productivity is low
What is the labor rate variance : Annapolis Company completes job #601 which has a standard of 550 labor hours at a standard rate of $18.35 per hour. What is the labor rate variance

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd