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11 (1a 2c)

1) The company issued shares on various dates to raise capital through share capital and share premium. 2) Retained earnings increased over time through net income. 3) Treasury shares were acquired which are deducted from total equity. 4) The statement of financial position as of December 31, 2014 shows the balances of share capital, share premium, retained earnings, and treasury shares, representing total equity.

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76 views9 pages

11 (1a 2c)

1) The company issued shares on various dates to raise capital through share capital and share premium. 2) Retained earnings increased over time through net income. 3) Treasury shares were acquired which are deducted from total equity. 4) The statement of financial position as of December 31, 2014 shows the balances of share capital, share premium, retained earnings, and treasury shares, representing total equity.

Uploaded by

Jason Sugianto
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as XLSX, PDF, TXT or read online on Scribd
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11-1a

A
Jan-10 Cash(100.000 x HK$50) 5,000,000
Share Capital-Ordinary
(100.000 x HK$20) 2,000,000
Share premium-Ordinary
(100.000 x HK$30) 3,000,000

Mar-01 Cash(5.000 x HK$1.050) 5,250,000


Share Capital-Preference
(5.000 x HK$1.000) 5,000,000
Share Premium-Preference
(5.000 x HK$50 250,000

Apr-01 Land 920,000


Share Capital-Ordinary
(18.000 x HK$20) 360,000
Share Premium-Ordinary
(HK$920.000 - HK$360.000) 560,000

May-01 Cash(80.000 x HK$45) 3,600,000


Share Capital-Ordinary
(80.000 x HK$20) 1,600,000
Share Premium-Ordinary
(80.000 x HK$25) 2,000,000

Aug-01 Organization Expense 300,000


Share Capital-Ordinary
(10.000 x HK$20) 200,000
Share Premium-Ordinary
(HK$300.000-HK$200.000) 100,000

Sep-01 Cash(10.000 x HK$50) 500,000


Share Capital-Ordinary
(10.000 x HK$20) 200,000
Share Premium-Ordinary
(10.000 x HK$30) 300,000

Nov-01 Cash(1.000 x HK$1.080) 1,080,000


Share Capital-Preference
(1.000 x HK$1.000) 1,000,000
Share Premium-Preference
(1.000 x HK$80) 80,000
B
Share Capital-Preference

Date Explanation Ref Debit Credit Balance


Mar-01 J5 5,000,000 5,000,000
Nov-01 J5 1,000,000 6,000,000

Share Capital-Ordinary
Date Explanation Ref Debit Credit Balance
Jan-10 J5 2,000,000 2,000,000
Apr-01 J5 360,000 2,360,000
May-01 J5 1,600,000 3,960,000
Aug-01 J5 200,000 4,160,000
Sep-01 J5 200,000 4,360,000

Share Premium-Preference
Date Explanation Ref Debit Credit Balance
Mar-01 J5 250,000 250,000
Nov-01 J5 80,000 330,000

Share Premium-Ordinary
Date Explanation Ref Debit Credit Balance
Jan-10 J5 3,000,000 3,000,000
Apr-01 J5 560,000 3,560,000
May-01 J5 2,000,000 5,560,000
Aug-01 J5 100,000 5,660,000
Sept-01 J5 300,000 5,960,000
C GAO CORPORATION
Statement of Financial Position(Partial)
December 31,2014

Equity
Share Capital-Preference
8% HK$1.000 par
Value,10.000 shares
authorized 6.000 shares
issued and.outstanding 6,000,000
Share Capital-ordinary,no par,HK$20
stated value,500.000.shares
authrorized,218.000 shares
issued and.outstanding 4,360,000
Share premium-preference 330,000
Share premium-ordinary 5,960,000
Total shared Capital 16,650,000
2a

A
Mar-01 Treasury shares (5.000 x $9) 45,000
Cash 45,000

June-01 Cash(500 x $12) 6,000


Treasury shares (500 x $9) 4,500
Premium-Treasury
(500 x $3) 1,500

Sept-01 Cash(2.500 x $10) 25,000


Treasury shares(2.500 x $9) 22,500
Share Premium-Treasury
(2.500 x $1) 2,500

Dec-01 Cash(1.000 x $6) 6,000


Share Premium-Treasury
(1.000 x $3) 3,000
Treasury shares(1.000 x $9) 9,000

31 Income Summary 34,000


Retained Earnings 34,000
B
Share Premium-Treasury
Date Explanation Ref Debit Credit Balance
Jun-01 J10 1,500 1,500
Sep-01 J10 2,500 4,000
Dec-01 J10 3,000 1,000

Treasury shares
Date Explanation Ref Debit Credit Balance
Mar-01 J10 45,000 45,000
Jun-01 J10 4,500 40,500
Sep-01 J10 22,500 18,000
Dec-01 J10 9,000 9,000

Retained Earnings
Date Explanation Ref Debit Credit Balance
Jan-01 ✓ 100,000
Dec-31 J10 34,000 134,000
C
ELSTON CORPORATION
Statement of Financial Position(Partial)
December 31,2014

Equity
Share capital-ordinary,$5 par
80.000 shares issued and
79.000 outstanding $400.000
Share premium-ordinary 200,000
Share premium-treasury 1,000
Retained earnings 134,000
Less: Treasury shares(1.000 shares) 9,000
Total equity $726.000
11-3A

Feb-01 Kas 120,000


Share Capital - Ordinary 25,000
Share Premium - Ordinary 95,000

Apr-14 Kas 46,000


Share Premium - Treasury 23,500
Treasury Shares 22,500

Sep-03 Patents 42,000


Share Capital - Ordinary 7,000
Share Premium - Ordinary 35,000

Nov-10 Treasury Shares 6,000


Kas 6,000

Dec-31 Income Summary 452,000


Retained Earnings 452,000
11-3B

Share Capital - Preference


Date Explanation Ref Debit Credit Balance
Jan-01 Balance ✓ 400,000

Share Capital - Preference


Date Explanation Ref Debit Credit Balance
Jan-01 Balance ✓ 1,000,000
Feb-01 J5 25,000 1,025,000
Sep-03 J5 7,000 1,032,000

Share Premium - Preference


Date Explanation Ref Debit Credit Balance
Jan-01 Balance ✓ 100,000

Share Premium - Ordinary


Date Explanation Ref Debit Credit Balance
Jan-01 Balance ✓ 1,450,000
Feb-01 J5 95,000 1,545,000
Sep-03 J5 35,000 1,580,000

Share Premium - Treasury


Date Explanation Ref Debit Credit Balance
Apr-14 J5 23,500 23,500

Reatined Earnings
Date Explanation Ref Debit Credit Balance
Jan-01 Balance ✓ 1,816,000
Dec-31 J5 452,000 2,268,000

Treasury Shares
Date Explanation Ref Debit Credit Balance
Jan-01 Balance ✓ 50,000
Apr-14 J5 22,500 27,500
Nov-10 J5 6,000 33,500
11-3C

TERREL CORPORATION
Statement of Financial Position ( Partial )
December 31, 2014

Equity
Share Capital - Preference 400,000
Share Capital - Ordinary 1,032,000

Share Premium - Preference 100,000


Share Premium - Ordinary 1,580,000
Share Premium - Treasury 23,500

Retained Earnings 2,268,000


Less : Treasury Shares 33,500

Total Equity 5,370,000

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