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Financial Accounting and Reporting - FAC1601 (FAC1601)
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FAC1601
Assignment 3 Semester 1 2024
Unique Number: 214921
Due Date: 30 April 2024
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This information relates to questions 1 - 5 below:
A profitable cattle feed production company, Tswelelopele Ltd, was incorporated with an authorised share capital of 900,000
NPV ordinary shares and 600,000 6.5% preference shares.
The company's financial year-end is April 30.
Below are the share transactions recorded for Tswelelopele Ltd since incorporation:
On May 1, 2022, 105,000 ordinary shares were issued to subscribers at R8.5 per share.
On June 18, 2022, 225,000 ordinary shares and 260,000 6.5% preference shares were issued to the public at R10.50 each
and R11.20 each, respectively.
On July 31, 2023, 102,000 6.5% preference shares were issued at R20.20 each.
On March 25, 2024, the share capital for ordinary shares increased by R1,820,500. These shares were issued at R12.50
each.
On April 15, 2024, the directors of Tswelelopele Ltd approved a capitalisation issue of 1 share for every 4 ordinary shares
held at R15.9 per share.
On April 30, 2024, the board of Tswelelopele Ltd declared an ordinary dividend of R0.45 per share, payable during May 2024.
The company met the liquidity and solvency requirements.
Which one of the following alternatives represents the correct total number of ordinary shares issued by Tswelelopele Ltd as
at 31 March 2024?
a. 300,000
b. 475,640
c. 245,000
d. 330,000
e. 2,150,500
Clear my choice
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,Question 2
Not yet answered
Marked out of 2.00
Assume that the total number of ordinary shares issued before the capitalisation is 540 000. Which one of the following
alternatives represents the correct number of capitalisation shares to be issued by Tswelelopele Ltd on 15 April 2024?
a. 82,500
b. 2,160,000
c. 118,910
d. 135,000
e. 2,000,000
Clear my choice
Question 3
Not yet answered
Marked out of 2.00
Assume that the total number of capitalisation shares issued is 110 000. Which one of the following alternatives represents
the correct value of the capitalisation shares to be issued by Tswelelopele Ltd on 15 April 2024?
a. R 242,000
b. R 1,890,669
c. R 2,000,000
d. R 1,749,000
e. R 2,146,500
Clear my choice
Question 4
Not yet answered
Marked out of 2.00
Assume that the total number of shares issued before the capitalisation and the capitalisation shares issued is 540 000 and
110 000 respectively. Which one of the following alternatives represents the correct amount of ordinary share dividend by
Tswelelopele Ltd on 30 April 2024?
a. R 90,000
b. R 292,500
c. R 148,500
d. R 135,000
e. R 225,000
Clear my choice
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, Question 5
Not yet answered
Marked out of 5.00
Which one of the following alternatives represents the correct amount of preference share dividend by Tswelelopele Ltd on
30 April 2024?
a. R 189,280
b. R 323,206
c. R 320,000
d. R 189,000
e. R 289,725
Clear my choice
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