STAGE 1 25 marks Glacier Holdings Ltd (GHL) is a public company and was incorporated a number of years ago and has been very successful. The equity section of the balance sheet of the company at the 30th June 20X1 is provided below: OWNERS' EQUITY Issued Capital Reserves Retained profits TOTAL OWNERS' EQUITY 85,000,000 39,952,000 13,675,400 138,627.400 The company's financial year ends on 30th June. Additional Information: 1. Issued capital is comprised of: 12,000,000 ordinary shares all issued at $5.00 each $25,000,000 of 6%pa preference shares. Dividends on these shares are paid annually on the last day of August. A list of ordinary shareholders and their holdings as at 30th June 20x1 is provided on the next page. (Ensure that you have fully read and understood the information previously provided under the Basic Details for the assignment.) First Name Deeanna Family name/Corporate name Smith Johnson Pty Ltd Williams Jones Brown Ltd Davis Miller Trust Fund Ruthanne Nadine Wevan Gilma Reiko Nathaniel Serafina Matt Rueben Shirley Zoe Deane Moore Taylor Anderson Thomas Jackson International Fund White Harris Martin Thompson Garcia Pty Ltd Martinez Robinson Clark Rodriguez Lewis Lee Walker Hall Allen Young Ltd Hernandez King Wright Lopez Hill Scott Green Adams Baker Gonzalez Nelson Waterloo Pty Ltd Gonzalo Art Hermelinda Edward Kurt Shanti Wendy Evelia Romana Shares at 30/6/20X1 20,000 1.560,000 25.000 15,000 322,000 12.500 438,000 111,000 87.500 176,000 15.000 24.500 3,250,000 10,000 33.500 76,000 58.900 978,000 32,200 19,900 66,600 48.000 9.400 15,000 23,200 9.000 21,300 750,000 14,000 5,000 54.500 45.400 28,000 29,800 110,000 25.000 18,600 9.200 1,000,000 12,400 59.000 36,700 67800 99,500 28.800 1.600.000 365,000 65,000 28,800 100,000 Quinton Jeannette Herta Stephanie Mavis Meri Sheldon Samantha Forest Garfield Petrina Penelope Eleonore Yvette Craig Nedra Mitchell Perez Roberts Turner Philips Campbell Superannuation Ltd Parker Evans Edwards Collins natius Cassandra Janet During the 20x0/X1 year shareholders were given the opportunity to participate in the dividend reinvestment plan introduced by GHL. Under this plan shareholders would receive ordinary shares in lieu of cash for dividends. Shareholders must agree that their entire holding is subject to the DRP plan. Shares are issued at 95% of the closing ASX share price on the day in which the dividend is declared. It is likely that the calculation of the number of shares under the DRP plan will result in a part share (ie not a whole number). In that event the number of shares will be rounded down to the next whole number. For example, a calculation which results in 12.345.78 shares will be rounded down to 12,345. Whenever the rounding occurs that rounded down number will be used as the basis for future transactions and calculations. The following shareholders agreed to have their shareholding be subject to the DRP plan: Ruthanne INadine Jessie Johnson Pty Ltd Williams Jones Davis Miller Trust Fund Wilson Moore Anderson Thomas Martin Thompson Martinez Robinson Walker Allen Young Ltd King Wright Scott Green Baker Nelson Waterloo Pty Ltd Carter Gilma Reiko Serafina Matt Zoe Deane Gonzalo Art Wendy Romana Jeannette Herta Meri Sheldon Forest Perez Turner Phillips Parker Evans Edwards Collins Petrina Eleonore Craig INedra Ignatius Iken Cassandra Janet On the 15th June 20x1 the company determined a final dividend of 4.0 cents per ordinary share. This was declared on the 15th July 20X1 and paid the day after the annual general meeting which was held on the 14th September 20X1. The following are a selection of ASX closing daily share prices for GHL Date Closing Share Price $ Date Closing Share Price $ 30/4/X1 $5.00 31/7/X1 $5.28 15/5/X1 $5.08 15/8/X1 $5.22 31/5/X1 $5.26 31/8/X1 $5.18 15/6/X1 $5.28 14/9/X1 $5.38 30/6/X1 $5.23 30/9/X1 $5.30 $5.29 15/7/X1 $5.20 14/10/X1 REQUIREMENTS FOR STAGE 1 1. Prepare all the general journal entries for all transactions that result from the information above for Glacier Holdings Ltd. for the period 1st July 20x1 to 15th September 20X1. Where there is a calculation you should provide a working paper and your journal narration can refer to the working paper for details. 18 marks Provide a list of ordinary shareholders and the number of shares they each hold after the payment of the final dividend on 15th September 20X1. Also clearly state the following: The number of ordinary shares on issue subject to the dividend reinvestment plan. The number of ordinary shares on issue which are not subject to the dividend reinvestment plan. The total number of ordinary shares on issue. 7 marks STAGE 1 25 marks Glacier Holdings Ltd (GHL) is a public company and was incorporated a number of years ago and has been very successful. The equity section of the balance sheet of the company at the 30th June 20X1 is provided below: OWNERS' EQUITY Issued Capital Reserves Retained profits TOTAL OWNERS' EQUITY 85,000,000 39,952,000 13,675,400 138,627.400 The company's financial year ends on 30th June. Additional Information: 1. Issued capital is comprised of: 12,000,000 ordinary shares all issued at $5.00 each $25,000,000 of 6%pa preference shares. Dividends on these shares are paid annually on the last day of August. A list of ordinary shareholders and their holdings as at 30th June 20x1 is provided on the next page. (Ensure that you have fully read and understood the information previously provided under the Basic Details for the assignment.) First Name Deeanna Family name/Corporate name Smith Johnson Pty Ltd Williams Jones Brown Ltd Davis Miller Trust Fund Ruthanne Nadine Wevan Gilma Reiko Nathaniel Serafina Matt Rueben Shirley Zoe Deane Moore Taylor Anderson Thomas Jackson International Fund White Harris Martin Thompson Garcia Pty Ltd Martinez Robinson Clark Rodriguez Lewis Lee Walker Hall Allen Young Ltd Hernandez King Wright Lopez Hill Scott Green Adams Baker Gonzalez Nelson Waterloo Pty Ltd Gonzalo Art Hermelinda Edward Kurt Shanti Wendy Evelia Romana Shares at 30/6/20X1 20,000 1.560,000 25.000 15,000 322,000 12.500 438,000 111,000 87.500 176,000 15.000 24.500 3,250,000 10,000 33.500 76,000 58.900 978,000 32,200 19,900 66,600 48.000 9.400 15,000 23,200 9.000 21,300 750,000 14,000 5,000 54.500 45.400 28,000 29,800 110,000 25.000 18,600 9.200 1,000,000 12,400 59.000 36,700 67800 99,500 28.800 1.600.000 365,000 65,000 28,800 100,000 Quinton Jeannette Herta Stephanie Mavis Meri Sheldon Samantha Forest Garfield Petrina Penelope Eleonore Yvette Craig Nedra Mitchell Perez Roberts Turner Philips Campbell Superannuation Ltd Parker Evans Edwards Collins natius Cassandra Janet During the 20x0/X1 year shareholders were given the opportunity to participate in the dividend reinvestment plan introduced by GHL. Under this plan shareholders would receive ordinary shares in lieu of cash for dividends. Shareholders must agree that their entire holding is subject to the DRP plan. Shares are issued at 95% of the closing ASX share price on the day in which the dividend is declared. It is likely that the calculation of the number of shares under the DRP plan will result in a part share (ie not a whole number). In that event the number of shares will be rounded down to the next whole number. For example, a calculation which results in 12.345.78 shares will be rounded down to 12,345. Whenever the rounding occurs that rounded down number will be used as the basis for future transactions and calculations. The following shareholders agreed to have their shareholding be subject to the DRP plan: Ruthanne INadine Jessie Johnson Pty Ltd Williams Jones Davis Miller Trust Fund Wilson Moore Anderson Thomas Martin Thompson Martinez Robinson Walker Allen Young Ltd King Wright Scott Green Baker Nelson Waterloo Pty Ltd Carter Gilma Reiko Serafina Matt Zoe Deane Gonzalo Art Wendy Romana Jeannette Herta Meri Sheldon Forest Perez Turner Phillips Parker Evans Edwards Collins Petrina Eleonore Craig INedra Ignatius Iken Cassandra Janet On the 15th June 20x1 the company determined a final dividend of 4.0 cents per ordinary share. This was declared on the 15th July 20X1 and paid the day after the annual general meeting which was held on the 14th September 20X1. The following are a selection of ASX closing daily share prices for GHL Date Closing Share Price $ Date Closing Share Price $ 30/4/X1 $5.00 31/7/X1 $5.28 15/5/X1 $5.08 15/8/X1 $5.22 31/5/X1 $5.26 31/8/X1 $5.18 15/6/X1 $5.28 14/9/X1 $5.38 30/6/X1 $5.23 30/9/X1 $5.30 $5.29 15/7/X1 $5.20 14/10/X1 REQUIREMENTS FOR STAGE 1 1. Prepare all the general journal entries for all transactions that result from the information above for Glacier Holdings Ltd. for the period 1st July 20x1 to 15th September 20X1. Where there is a calculation you should provide a working paper and your journal narration can refer to the working paper for details. 18 marks Provide a list of ordinary shareholders and the number of shares they each hold after the payment of the final dividend on 15th September 20X1. Also clearly state the following: The number of ordinary shares on issue subject to the dividend reinvestment plan. The number of ordinary shares on issue which are not subject to the dividend reinvestment plan. The total number of ordinary shares on issue. 7 marks