Hi apologises for the long question
At 1 jan 05 CR had 2000000 ordinary shares of 25 cents each in issue. The company's only reserve at this date was retained profits amounting to $500000. On 1 may 05 the company made a one for two bonus issue. On 1 sept 05 the company made a one for three rights issue at a price of 40c. All shares in the issue were taken up.
What figures appear in the capital and reserves section of SPF at 31 dec 05?
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Capital and reserves
This is an F3 level question!
$1m share capital, $150,000 share premium, $250,000 retained earnings + whatever retained earnings were achieved in the year
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