QUESTION 2 (25 MARKS) The following items were disclosed in the Statement of Financial Position of Adanees Berhad as at 31 October 2015 Adaness Berhad Statement of Financial Position as at 31 October 2015 RM 200,000 Authorised Capital 200,000 5% Redeemable preference shares of RM 1 00 each 300,000 Ordinary shares of RM2.00 each 600,000 800,000 Issued Shares Capital 200,000 300,000 000 5% Redeemable preference shares of RM 1 .00 each 200, 150,000 Ordinary shares of RM2.00 each Reserves 116,000 74,000 30,000 Share premium Retained profit Capital redemption reserve Non Current Liability 10% Debentures 70,000 790,000 Assets 00,000 170,000 Plant and equipment (at book value Net current assets (except cash at bank) Bank balances 220.000 790,000 Durning the year, the following transaction ok place The Board of Directors ofAdaness Berhad agreed to redeem 90%, of the 5% redeemable preference shares at a premium of 20 cent. I. In order to facilitate the redemption of 500 redeemable preference shares, 100,000 ordinary shares were issued to the public at RM1.60 per share, payable in full upon application. The issue was fully subscribed. Retained profits were used to facilitate the insufficient amount on redemption. 2. 10% debentures was issued at 90% with nominal value of RM 80,000. The issuance cost incurred was RM15,000. The debentures was valued at fair value. 3, 4. The company made a right issue of four (4) new ordinary shares at par for every twenty (20) shares held by the existing shareholders. Required: Journalize the above transactions (narrations are not required). a