the shares. On 1 July 2020, ABT Ltd had the following two equity accounts on its Balance sheet: Share Capital (6,000,000 shares) $30,000,000 Retained Earnings $17,000,000 The following events and transactions relate to ABT Ltd for the financial year ending 30 June 2021. 31/12/2020 ABT Ltd has been operating successfully and the current market price is $12 per share. On 31 December 2020, the company declared a 5% share dividend and $12 was the value assigned to The share dividend was distributed in January 2021 20/01/2021 Issued the shares for the share dividend. 30/06/2021 For the financial year ending 30 June 2021, ABT Ltd recorded a profit after income tax of $15.000.000. On 30 June 2021, $2,000,000 was transferred from Retained Earnings to General Reserve to provide for future business expansion 30/06/2021 Declared a final cash dividend of 30 cents per share. REQUIRED: i) Prepare the general journal entries relating to the share dividend on 31/12/2020 and 20/01/2021. [Narrations are not required). ii) Prepare the Equity section of the Balance Sheet of ABT Ltd as at 30 June 2021. [(3 + 3) + (3 + 5) = 14 marks] Answer Sheet: Question Four PART A i) Answer Acquisition cost: ii) Answer General Journal Date Accounts Debit (5) Credit