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EPPD1033 QUESTION 2 (20 MARKS) Intan Sahara is undergoing industrial training in an accounting firm. She was prepare the financial statements for Nasuha Corporation. In the process of her found the following transactions related to ownership interest for the year 201 work, she Apr 4 | Issued 10,000 units of cumulative Preference Share, 5% for the purp ha e of acquiring a parcel of land According to an independent valuer, he market value of RM60,000. Market value of Nasuha Corporation s shres this date is not known shares on Apr 7 Issued 5,000 units of cumulative Preference Share, 5% for share Apr 10 Issued 50,000 units of Common Shares for cash at RMI.60 per share. May 30 Declared RM40,000 cash dividend to Preference and Commorn Dividend will be paid in June 2011. There was no dividend declared in 2010, although dividends were declared and paid for the previous years Jun 30 Paid dividends in cash July 1 Announced a 2 for 1 stock split for ordinary shares. Market price of the shares Oct 1 | The Company declared a 10% stock dividend to ordinary shareholders on on this date is RM1.50 per share record as at October 1, 2011. The market price of ordinary shares on the date of declaration is RM0.80 per share No Allocate stock dividend to ordinary shareholders She also found the balances in the equity accounts of Nasuha Corporation as at December 31, 2010 as follows: RM 100,000 200,000 Curnulative Preference Share, 5%, par value RM5 per share, 20,000 units Ordinary Share, par value RMI per share, 200,000 units Preference Share Premium Ordinary Share Premium Retained Earnings 80,000 Nasuha Corporation is authorized to issue 60,000 units Cumulative Preference Sure, 5%, with par value of RM5 per share and 600,000 units Ordinary Share, par value RMI per share. Net income for the year ended December 31, 2011 is RM100,000. Required. a) Prepare the journal entries to record the above transactions. (10 marks) Kertas soalan ini mengandu

Kredt Fol Butir-butir b) Calculate cash dividends atributable to ordinary shareholders and preference shareholders (3 marks) c) Prepare Owners Equity section in the Statement of Financial Position of Nasuha Corporation as at December 31, 2011 (7 marks)

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