Question
Apek Bhd is a company that sell headphones. The information below is the extraction from company's financial statement The composition of the company's shareholders equity
Apek Bhd is a company that sell headphones. The information below is the extraction from company's financial statement
The composition of the company's shareholders equity as at 1 October 2017 was as follows:
RM ('000 000)
Ordinary shares 50
Additional paid-in capital 120
Preferred shares 30
Retained earnings 70
270
Additional information:
On 1 January 2018 the company issued 1 million new ordinary shares for total consideration of RM45 million.
On 1 February 2018, the company issued 200,000 unit of preferred share. The cost per unit is RM50.
Profit for the financial year ended 30 September 2018 amounted to RM45 million and the company paid dividends totaling RM 10 million.
As for pre-caution strategy, company allocated 5% from the net profit to be transfer to capital reserved and 300,000 shares were bought back on 30 June 2018 at RM30 per share.
During the year, company's land had an increment on value. A professional valuer advise the company that one of the land is price at RM150 million on market value. The original purchase price of the land is at RM125 million.
Company have specific fund to pay to the bondholders in 5 years. Company just started the reserve this year with amount of RM 2 million.
As the accountant of the company, you are required to prepare statement of changes in equity for the company for the year ended 30 September 2018.
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