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help me answer question 3 QUESTION 3 (25 MARKS / 37.5 MINUTES] Tech Nuts Lid assembles mainframe computers for governments and businesses. Due to increasing

help me answer question 3

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QUESTION 3 (25 MARKS / 37.5 MINUTES] Tech Nuts Lid assembles mainframe computers for governments and businesses. Due to increasing Labour costs, Tech Nuts Lid decided to automain the assembly process in their factories across South Africa. The funding of the robotic equipment, Installation and testing will require significant cash. Tech Nuts Lid is not a VAT vendor and has a 31 December financial your and. The company was registered with the following authorised share capital 4 000 000 Ordinary no-par value shares; and 1 500 000 R25 12%% non-red in preference shares. At 1 January 2020 Tech Nuts Lid had lesued 3 000 000 ordinary no-par value shares and 100 090 R25 12%% non-redeemable preference shares. The prior year financial statements showed stated capital and retained earnings with closing balances of RIB 400 000 and RB 087 500 respectively. 1. Issue of ordinary no-par value shares to the market On 1 May 2020, Tech Nuts Lid offered 250 000 ordinary shares to the general public at an issue price of RO per share. On 15 May 2020, the closing date for applications, Tech Nuts Lid received applications for 300 000 ordinary shares. On 30 June 2020, the directors issued 250 000 ordinary no-par value shares and refunded all unsuccessful applicants, Share issue costs amounting to R60 000 were Incurred and was paid on 30 June 2020. 2. Debenture issue On 1 September 2020, Tech Nuts Lid Issued 200 000 Debentures of R9 each with a coupon value of 8% to the public. The debentures are redeemable on 31 August 2025 at RS per debenture. Interest on debenture's is payable annually on 31 August 3. Dividends Date declared Data paid Amount paid Ordinary shares - Final dividend 31/12/2020 31/01/2021 120 cents per share Preference shares 31/12/2020 31/01/2021 YOU ARE REQUIRED TO: MARKS Prepare the relevant journal entries to record the information in Note 1 in the [12] accounting records of Tech Nuts Lid for the year ended 31 December 2020. Dates and narrations ARE REQUIRED. Round all figures to the nearest Rand. Show all your calculations. Prepare the relevant journal entries to record the information in Note 2 in the 171 accounting records of Tech Nuts Lid for the year ended 31 December 2020. Dates and nanations ARE REQUIRED, Round all figures to the nearest Rand, Show all your calculations (C) Prepare the relevant journal entries to record the information in Note 3 in the accounting records of Tech Nuts Lid for the year ended 31 December 2020. Dates and narrations ARE REQUIRED Round all figures to the nearest Rand Show all your calculations

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