Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Help to calculate bonus share and dividend amount!!! Please and thank you. Balances as at 30 June 2020 Ordinary share capital at $1 each: $2,000,000

Help to calculate bonus share and dividend amount!!! Please and thank you. Balances as at 30 June 2020 Ordinary share capital at $1 each: $2,000,000 Retained earnings: $398,000 Asset reevaluation reserve: $480,000

Additional information: The company made a bonus issue of one new ordinary share for every twenty ordinary shares at $1.20 each on 1 April 2020. Final dividends of $0.01 per ordinary share were proposed on all ordinary shares in existence as at 31 March 2020.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting Principles And Applications

Authors: Horace R. Brock

5th Edition

0070081522, 978-0070081529

More Books

Students also viewed these Accounting questions

Question

Describe the components of identity.

Answered: 1 week ago