QUESTION FOUR [25] Success Limited registered with the CIPC and the Certificate of Commencement was issued on 1 July 2022. Authorised share capital was granted as follows: 900 000 Ordinary shares of R2 each, and 400 000 10% Preference shares of R5 each The following transactions took place for the year ended 30 June 2023. The Founders resolved to purchase 100 000 Ordinary shares at R2 each and 20 000 10% Preference shares at R5 each. The share certificates for the Ordinary shares and the 10% Preference Shares were issued to the Founders as agreed. 2 Sept 2 Dec (continued) 30 Dec 5-6 of 13 * . Upon receipt of the share certificates, the Founders paid in full as resolved. The Company offered 100 000 Ordinary shares at R2 each to the public. The closing date for applications was 2 December 2023. Application for 110 000 ordinary shares were received from the public with their application monies and the regulatory application documents. Shares were allotted to successful applicants Q Search

Required: Prepare general journal entries to record all the relevant transactions regarding the issue of shares during the current financial year ended 30 June 2023 . Include general journal entries for the declaration and payment of dividends, the income tax expense, the payment of dividends as approved, and the year-end closing entry for the share issue expenses NB: You are required to also record the date and a short narration for each transaction