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Success Limited registered with the CIPC and the Certificate of Commencement was issued on 1 July 2022. Authorised share capital was granted as follows: -
Success Limited registered with the CIPC and the Certificate of Commencement was issued on 1 July 2022. Authorised share capital was granted as follows: - 900000 Ordinary shares of R2 each, and - 40000010% Preference shares of R5 each The following transactions took place for the year ended 30 June 2023. 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
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