Answered step by step
Verified Expert Solution
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](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started