Please help me with this accounting equity question. Thank you.
Hoodoo Ltd has a nancial year that ends on 30 June. The company had the following selected General Ledger balances on 1 July 2016: 35 Machinery 210 000 Accumulated Depreciation - Machinery 108 000 Share Capital (400 000 shares) 400 000 Retained Earnings 332 000 Final Dividend Payable 24 000 The bookkeeper has completed most of the accounting for the year but was unsure of how to record the following selected transactions that took place during the nancial year: 35513 ..... . ..................................................................................................................................................................................................................... ISIulyPaldmenalddedththadbeedlardandacrued11162016 ?The company issued a prospectus inviting the general public to subscribe for 300 000 ?shares at an issue price of $1.50 per share. Applicants must pay the full amount when ?22 Sept? Eithey send 1n their application forms. Members of the public apply for 450 000 shares ... "I ....................................................................................................u..................................... ......................... ................................................. ?Traded 1n ALL the existing machinery for new machinery. The existing machinery was? ?being depreciated using straight line method over a useful life of 8 years. It had a _ [residual value of $30 000. ?1 Nov 'The new machinery cost $370 000 and the company was given a trade-' -1n on the old ?machinery of $100 000 and had to pay the balance' 1n cash The new machinery has a ?residual value of $40 000. It IS to be depreciated using reducing balance method at ?15%. 18Dec Dlrectorsdeclaredandthenpaldanmtenm dividend of 5 cents per share. ' ?2 0 1 7m ..., ?23 Jan ?It' was dec1ded to transfer $80 000 from Retained Ear-mugs into a Plant and Eqmpment ................... ReplacementResem ................................................................................................................................................................. ?The directors authorised a bonus share issue to existing shareholders (including those ' ?18 M ?from the recent share issue. Shareholders are to receive one bonus share (valued at ayi. ?$1 50 each) for every ten shares already held. Retained earnings are to be used for the EThe directors authorised a bonus share issue to existing shareholders (including those Efrom the recent share issue. Shareholders are to receive one bonus share (valued at $1 .50 each) for every ten shares already held. Retained earnings are to be used for the Ebonus 1ssue. IE8 MayE EThe directors recommend a nal dividend of 6 cents per share at the end of the nancial 1E7 JuneE E,year payable m July 2017. EThe bookkeeper has calculated a prot in the Prot and Loss Summary account at E30 June 2017 of $178 000. However this did NOT include any of the above . Etransactions (he did not include any depreciation or any gain or loss on the sale of E30 JuneE machinery as he was unsure of how to do this). You should depreciate the new Emachinery up to 30 June. Then transfer the depreciation expense on both the old and Enew machinery to the Prot and Loss Summary Account, which will then affect the Record the above transactions in the general journal. Prepare any closing entries that relate to the above information at 30 June, 2017. Complete the Shareholders Eqmty section of the Statement of Financial Position for Hoodoo Ltd
