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Question - On 1 March 2020, JK Limited was incorporated with an authorised share capital of 350 000 ordinary shares and 200 000, 5% preference shares. 50 000 ordinary shares at R2.50 each and 40 000, 5% preference shares at R3.70 each were offered to the public. By 1 May 2020, applications for 55 000 ordinary shares and 40 000, 5% preference shares had been received. The shares were allotted on the 5th of May 2020 and all surplus application money was returned to unsuccessful applicants.
Required - Journalise all the share transactions. Narrations are not required.
J. Lynn, M. Oller, and F. Tate share income on a 5 : 3 : 2 basis. They have capital balances of $30,000, $26,000, and $18,000, respectively, when Doc Duran is admitted to the partnership.
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Assume that the company uses the weighted-average method. Determine the equivalent units for February for the Brewing Department
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Colson issued $2,100,000 of 8% convertible bonds at face value during 2014. Complete the schedule and compute diluted earnings per share for 2015
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