QUESTIONS/SOALAN Marks / Markah 1. Dahlia Bhd was incorporated with an authorized capital of RM100,000 consisting of 50,000 ordinary shares of RM1.00 each and 50,000 3% preference shares of RM1.00 each. Below is the Statement of Financial Position of Dahlia Bhd as at 31 December 2019. Dahlia Bhd Statement of Financial Position as at 31 December 2019 Non-Current Asset Current Asset (excluding bank) Bank RM 100,000 50,000 25,000 175,000 Authorized share capital 100,000 ordinary shares of RM1.00 100,000 100,000 preference shares of RM1.00 100,000 200,000 Issued and paid up share capital 30,000 ordinary shares of RM1.00 each 30,000 15,000 3% Preference Shares of RM1.00 each 15,000 Reserves Retained earnings 80,000 Share premium 50,000 175,000 Additional Information: i. The director of the company decided to make an issue of 35,000 ordinary shares at RMI each for subscription, and 50,000 3% preference shares of RM1 for RM1.50 each, payable in full upon application. ii. Application for 50,000 ordinary shares and 50,000 preference shares were received. Then money received on the oversubscribed shares was refunded and all money due were received. Required: a. Prepare journal entries to record the above transactions. b. Prepare the Statement of Financial Position as at 31 December 2019 to show the effect of the above transactions. (11) (9) Page 11 of 16 (Total: 20)