Description
MAC3703 Assignment 2 Semester 1 Memo | Due 30 April 2025. Step by Step Calculations Done.
QUESTION 1 (20 marks)
Calendar Ltd (“Calendar”) is a South African company in a paper industry. It manufactures and distributes paper to government department. Mr Cut the company CEO has requested that the management accountant to measure the company performance using earnings per share. Calendar’s financial year end is 31 December.
1. Profit before taxation for current year is R10 000. Calendar had 50 000 ordinary shares in issue on 31 December 2019 while the authorised share capital consisted of 100 000 ordinary shares.
2. On 1 March 2020 Calendar had a right issue of one ordinary share for every 5 ordinary shares held. The exercise price of the rights was R3.75 and the last day to exercise the right was 31 March 2020. All the rights were exercised on 31 March 2020. The market value of one ordinary share at the close of the last day on which the shares traded together with the…….. All questions fully answered.
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