For change of equity, according to the answer by ACCA, the right issue of 20million shares(50,000/50 cents each *1/5) at $1.2 has been recorded as S$10 million equity shares (20 million *$0.50) and $14 million premium (20million *($1.20-$0.50))
I do not know how do I get the 20million shares, where do we get 1/5?