Exam (elaborations)
FAC1602 ASSIGNMENT 3 FOR 2024
- Course
- FAC1602 (FAC1602)
- Institution
- University Of South Africa (Unisa)
FAC1602 ASSIGNMENT 3 FOR 2024
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FAC1602ASSIGNMENT 3 FOR 2024
FEND TUTORIALS
,Question 1
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Question text
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.
330,000
b.
2,150,500
c.
475,640
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,d.
300,000
e.
245,000
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Question 2
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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.
118,910
b.
82,500
c.
135,000
d.
2,160,000
e.
2,000,000
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Question 3
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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 2,146,500
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, b.
R 1,890,669
c.
R 2,000,000
d.
R 1,749,000
e.
R 242,000
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Question 4
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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 135,000
b.
R 292,500
c.
R 90,000
d.
R 148,500
e.
R 225,000
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Question 5
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