Exam (elaborations)
FAC1601 Assignment 3 Semester 1 2024 (214921) - DUE 30 April 2024
- Course
- FAC1601 (FAC1601)
- Institution
- University Of South Africa
QUESTIONS AND ANSWERS
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[Date]FAC1601 Assignment
3 Semester 1 2024
(214921) - DUE 30
April 2024
QUESTIONS AND ANSWERS
[COMPANY NAME]
, FAC1601 Assignment 3 Semester 1 2024 (214921) - DUE 30
April 2024
Question 1
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 fi nancial 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. 245,000
c. 300,000
d. 475,640
e.2,150,500
question 2
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