The general journal entry have 4 columns: date, description, debit and credit. On 30...
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Accounting
The general journal entry have 4 columns: date, description, debit and credit.
On 30 June 2022, the equity accounts of Omega Ltd consisted of the following: 20 September 2022 The final 10c per share dividend for the year ended 30 June 2022 was declared, and approval to pay the dividend was obtained at the annual general meeting. 27 September 2022 The final 10c per share dividend for the year ended 30 June 2022 was paid. 1 October 2022 The directors issued a prospectus offering 70000 ordinary shares at an issue price of $3, payable $2 on application and $1 at a future call. The closing date for application was 31 October 2022. 31 October 2022 Applications for 87500 shares have been received. 5 November 2022 The directors allotted the shares pro rata, with applicants receiving 80% of their requested shares. The company's constitution allows excess application monies to be retained and used to offset future calls payable. 15 November 2022 The share issue cost of $6000 was paid. 31 December 2022 The directors announced an interim dividend of 5c per share payable in cash on 1 February 2023 28 April 2023 To raise funds for expansion, the directors sold 50000 ordinary shares to Evergreen Finance at an issue price of $3 per share. 15 May 2023 The directors decided to transfer $60000 from retained earnings to the general reserve. 30 June 2023 The directors decided to use the general reserve to fund the payment of 50000 bonus shares, these being issued at $1.50 per share. Required Prepare general journal entries to record the above transactions during the year ended 30 June 2023Get Answers to Unlimited Questions
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