FAC1601-24-S1 Welcome Message Assessment 3
QUIZ
Time left 1:57:13
Question 1
Not yet answered
Marked out of 3.00
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. 245,000
c. 300,000
d. 475,640
e. 2,150,500
Clear my choice
,Question 5
Not yet answered
Marked out of 5.00
Which one of the following alternatives represents the correct amount of preference share dividend by Tswelelopele Ltd on
30 April 2024?
a. R 189,000
b. R 323,206
c. R 289,725
d. R 189,280
e. R 320,000
Clear my choice
, Question 8
Not yet answered
Marked out of 1.50
Which statement accurately describes the taxation of close corporations?
a. A close corporation is taxed separately from its members.
b. Members of a close corporation are taxed on the CC's income.
c. Taxation of a close corporation is at a fixed rate irrespective of income.
d. Close corporations pay double the tax rate compared to companies.
e. Close corporations are exempt from all forms of taxation.
Clear my choice
QUIZ
Time left 1:57:13
Question 1
Not yet answered
Marked out of 3.00
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. 245,000
c. 300,000
d. 475,640
e. 2,150,500
Clear my choice
,Question 5
Not yet answered
Marked out of 5.00
Which one of the following alternatives represents the correct amount of preference share dividend by Tswelelopele Ltd on
30 April 2024?
a. R 189,000
b. R 323,206
c. R 289,725
d. R 189,280
e. R 320,000
Clear my choice
, Question 8
Not yet answered
Marked out of 1.50
Which statement accurately describes the taxation of close corporations?
a. A close corporation is taxed separately from its members.
b. Members of a close corporation are taxed on the CC's income.
c. Taxation of a close corporation is at a fixed rate irrespective of income.
d. Close corporations pay double the tax rate compared to companies.
e. Close corporations are exempt from all forms of taxation.
Clear my choice
