Group 3 presentation (chapter 5)

Group 3 presentation (chapter 5) - POLITEKNIK TUANKU...

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POLITEKNIK TUANKU SULTANAH BAHIYAH COMMERCE DEPARTMENT P 4201 Financial Accounting 3 Presentation (Chapter 3) Phanuwat A/L Suni 16DAT08F1018 Kum Pha A/L Ke Ang 16DAT08F1015 Vichai A/L Eh Bok 16DAT08F1017 Name: Lecture: Pn. Hasmida Bt Mohamad Hassan
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Submit Date: 29 August 2010 Question 1 The information below relating to Syarikat Haqimi Berhad for the year ended 31 December 2007. Jan 15 Bought 7 500 units RM1 ordinary shares in Hamka Berhad at RM 1.40 each. Feb 14 Bought RM20 000 ordinary shares in Faez Berhad at RM15 000 Apr 28 Hamka Berhad issued two units bonus shares for every five units held. May 31 Sold 4 200 units ordinary shares in Hamka Berhad at RM1.10 each. Jun 30 Received 2. 5 % dividend from Faez Berhad Nov 30 Hamka Berhad paid an interim dividend of 4% on the existing ordinary shares, and made one right issue for every three held at RM1. 20 each. Haqimi Berhad took up ½ of its right and sold the remaining rights for RM0. 30 each. Dec 20 Sold 3 150 units ordinary shares in Hamka Berhad at RM1. 40 each. Dec 30 Received 3 % ordinary shares dividend from Faez Berhad. It is the policy of Haqimi Berhad to use the weighted average method of calculation the cost of each investment sold, when determining the profit or loss rising at the time of each disposal. Prepare the investment account in the books of Syarikat Haqimi Berhad for the year ended 31 December 2007.
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Investment Account – Hamka Berhad Date Particular Nom Incom e Cost Date Particula r Nom Incom e Cost (RM) (RM) (RM) (RM) (RM) (RM) 15/01/07 Bank - Bought 7500 - 1050 0 31/05/07 Bank - Sold 4200 - 4620 28/04/07 Bonus 3000 - - 30/11/07 Bank - 252 - 31/05/07 Profit on
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This note was uploaded on 12/20/2010 for the course FIN 3 taught by Professor - during the Spring '10 term at Art Institute of Indianapolis.

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Group 3 presentation (chapter 5) - POLITEKNIK TUANKU...

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