$144,000 The equity of Bunker Ltd at 30 June 20X1 included the following: 90000 2.5% preference shares issued at $1.60, fully paid 200,000 ordinary A shares issued at $1.80, fully paid 220,000 ordinary 'B' shares issued at $2.00, fully paid Share options issued at 50c, fully paid $360,000 $440,000 $10,500 Round all your answers to the nearest dollar amount. If you believe no journal entry is required, select NULL for the account name, NA for the Dr or Cr, and enter O for the amount. Do not leave the amount blank. Do not enter dollar ($) signs or commas (i.e. enter 10000 not $10,000). NB: The description may be missing from some of the journal entries below. This is intentional. Required: Required: Prepare general journal entries to record the following transactions for the year ended 30 June 20X2. (i) The preference dividend and the ordinary 'A' dividend of 10c per share, both declared on 30 June 20X1, were both paid on 15 July 20X1. No dividend was declared or paid on the ordinary 'B' shares. 15 July 20X1 Dr Cr (Preference dividend paid) Dr cr (Ordinary 'A' dividend paid) (ii) On 20 September 20X1, Bunker Ltd made a public issuance of ordinary 'C' shares. It issued a prospectus inviting applications for 100,000 shares, payable $1.50 on application and $0.50 on call. Bunker Ltd had received applications for 120,000 shares when applications closed on 10th November 20X1. 20 September 20X1 through 10 November 20X1 Dr cr (iii) On 28 November 20X1, the ordinary 'C' shares were issued to all the subscribers on a pro rata basis and excess monies received were used to reduce amounts to be paid on subsequent calls. 28 November 20X1 Dr > cra (Shares issued on pro-rata basis) Dr cr December 20X1 and the shares were issued on that date. Assume all cash received from shareholders who accepted the offer was received on 30 December 20X1. The issue wa underwritten at a commission of $1,800. Holders of 180,000 shares accepted the rights offer, paying the required price per share, with the renounced rights being taken up by the underwriter. Ordinary 'A' shares were duly issued. 30 December 20X1 Cash Dr ( cr (Shares issued pursuant to the rights offer) (Shares issued pursuant to the rights offer) Dr Cr > (Underwriting costs) (vi) On 1 February 20X2, money owed on the 15 December 20X1 call for ordinary 'C' shares was due. All call money was received except for that due on 9,000 shares. Shares unpaid were forfeited. Forfeited share amounts were retained by the company. Assume all cash received from shareholders who paid the call was received on 1 February 20X2. 1 February 20X2 Dr cr (Receipt of monies due on ordinary 'C' call) Dr O - cr Call - Ordinary 'C' Forfeiture of shares on unpaid call) (vii) The options were exercisable on 28 April 20X2. Each option entitled the holder to acquire two ordinary 'B' shares at $1.80 per share. As a result of options being exercised, 30,000 ordinary 'B' shares were issued on 28 April 20x2. Unexercised options lapsed. Assume any cash owed as a result of exercise of the options was received on 28 April 20X2. 28 April 20X2 to Dr Cash Dr cr Share capital - Ordinary 'B' (viii) On 10 May 20X2, the directors transferred $13,000 from retained earnings to general reserve. 10 May 20X2 Dr Cr 30 June 20X2 Dr Cr $144,000 The equity of Bunker Ltd at 30 June 20X1 included the following: 90000 2.5% preference shares issued at $1.60, fully paid 200,000 ordinary A shares issued at $1.80, fully paid 220,000 ordinary 'B' shares issued at $2.00, fully paid Share options issued at 50c, fully paid $360,000 $440,000 $10,500 Round all your answers to the nearest dollar amount. If you believe no journal entry is required, select NULL for the account name, NA for the Dr or Cr, and enter O for the amount. Do not leave the amount blank. Do not enter dollar ($) signs or commas (i.e. enter 10000 not $10,000). NB: The description may be missing from some of the journal entries below. This is intentional. Required: Required: Prepare general journal entries to record the following transactions for the year ended 30 June 20X2. (i) The preference dividend and the ordinary 'A' dividend of 10c per share, both declared on 30 June 20X1, were both paid on 15 July 20X1. No dividend was declared or paid on the ordinary 'B' shares. 15 July 20X1 Dr Cr (Preference dividend paid) Dr cr (Ordinary 'A' dividend paid) (ii) On 20 September 20X1, Bunker Ltd made a public issuance of ordinary 'C' shares. It issued a prospectus inviting applications for 100,000 shares, payable $1.50 on application and $0.50 on call. Bunker Ltd had received applications for 120,000 shares when applications closed on 10th November 20X1. 20 September 20X1 through 10 November 20X1 Dr cr (iii) On 28 November 20X1, the ordinary 'C' shares were issued to all the subscribers on a pro rata basis and excess monies received were used to reduce amounts to be paid on subsequent calls. 28 November 20X1 Dr > cra (Shares issued on pro-rata basis) Dr cr December 20X1 and the shares were issued on that date. Assume all cash received from shareholders who accepted the offer was received on 30 December 20X1. The issue wa underwritten at a commission of $1,800. Holders of 180,000 shares accepted the rights offer, paying the required price per share, with the renounced rights being taken up by the underwriter. Ordinary 'A' shares were duly issued. 30 December 20X1 Cash Dr ( cr (Shares issued pursuant to the rights offer) (Shares issued pursuant to the rights offer) Dr Cr > (Underwriting costs) (vi) On 1 February 20X2, money owed on the 15 December 20X1 call for ordinary 'C' shares was due. All call money was received except for that due on 9,000 shares. Shares unpaid were forfeited. Forfeited share amounts were retained by the company. Assume all cash received from shareholders who paid the call was received on 1 February 20X2. 1 February 20X2 Dr cr (Receipt of monies due on ordinary 'C' call) Dr O - cr Call - Ordinary 'C' Forfeiture of shares on unpaid call) (vii) The options were exercisable on 28 April 20X2. Each option entitled the holder to acquire two ordinary 'B' shares at $1.80 per share. As a result of options being exercised, 30,000 ordinary 'B' shares were issued on 28 April 20x2. Unexercised options lapsed. Assume any cash owed as a result of exercise of the options was received on 28 April 20X2. 28 April 20X2 to Dr Cash Dr cr Share capital - Ordinary 'B' (viii) On 10 May 20X2, the directors transferred $13,000 from retained earnings to general reserve. 10 May 20X2 Dr Cr 30 June 20X2 Dr Cr