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FAC1601 Assignment 3 Semester 2 2024
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FAC1601 Assignment 3 Semester 2 2024
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52: Assessment 3 x #a.g
, mymodules.dtls.unisa.ac.za/mod/quiz/view.php?id= 1008888
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NISA 2024 FAC1601-24-$2 Welcome Message Assessment 3
II
Quiz
Assessment 3
Opened: Saturday, 28 September 2024, 2.00 PM
Closes: Tuesday, 1 October 2024, 11.59 PM
194185
Please note that this is an individual assessment:
you MUST do the assessment yourself without anyone assisting
you may NOT request another person or tutor or any other institution to do the assessment on your behalf
you may NOT do the assessment in groups
you may NOT share your workings or answers with other students doing the same module
If you are found to have plagiarised and committed academic dishonestly, you will be granted 0% for the assessment and further taken through the university's disciplinary process for
further sanction, including being expelled from the university
Where applicable, round off your answers to the nearest Rand
ear
Attempts allowed: 3
Time limit: 2 hours 30 mins
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Question l
Greenflelds Fertilizer Ltd is a company incorporated in 2023, specialising in the production and sale of high-performance fertilizers for maize and other crops. The
Not yet
answered
company has grown steadily over the years due to its innovative approach in developing sustainable fertilizers tailored to improve crop yield and soil health. Operating
out of a state-of-the-art production facility in Broederstroom, North West Province, GreenFields Fertilizer Ltd serves farmers and agricultural enterprises across South
Marked out of
2.00
Afnca. The company prides itself on strong research and development capabilities, ensuring its products are aligned with the latest advancements in agricultural
science.
F
The company's authorised share capital includes 1,300,000 NPV ordinary shares and 650,000 10% preference shares of R5.9 each. Greenfields Fertilizer Ltd has
consistently demonstrated financial prudence, leading to robust shareholder returns.
The company financial year end is 28 February.
Below are the share transactions recorded for Greenfields Fertilizer Ltd since its incorporation:
On 1 March 2023, 99,000 ordinary shares were issued to subscribers at R6.5 per share.
On 5 April 2023, 184,000 ordinary shares and 190,000 10% preference shares were issued to the public at R7.9 each and R6.3 each, respectively.
On 15 January 2024, the share capital for ordinary shares increased by R1,947,500. These shares were issued at R9.5 each.
On 1 June 2024, 74,000 10% preference shares were issued at R11.8 each.
On 31 May 2024, the directors approved a capitalisation issue of 2 shares for every S ordinary shares held at R6.9 per share
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On 15 January 2024, the share capital for ordinary shares increased by R1,947,500. These shares were issued at R9.5 each.
On 1 June 2024, 74,000 10% preference shares were issued at R11.8 each.
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On 31 May 2024, the directors approved a capitalisation issue of 2 shares for every 5 ordinary shares held at R6.9 per share.
On 31 August 2024, the board of GreenFields Fertilizer Ltd declared an interim ordinary dividend of Rl .5 per share payable during November 2024 The company met
the liquidity and solvency requirements, and on 1 December 2024, payment was made to the shareholders in respect of the dividends.
Calculate the correct total number of ordinary shares issued by GreenFields Fertilizer Ltd as at 30 June 2024?
Instructions:
1. Round off all your answers to the nearest rand (eg: 50.56 = 51)
2 Don't use any special characters (&) and don't use bold in your answer. It will be marked incorrect.
3 Do not use any abbreviations.
4 Please remember the brackets around the amounts must be indicated by a negative amount [eg: (50) will be 50).
[
Answer: 683200
a
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