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During the year, the company issued bonus shares on the basis of 1 for 4 shares already held by capitalising part of its general reserve.
Later in the year, the company made a new issue of shares at full market price
At the year end, there were balances on the share capital account and share premium account of $960,000 and $400,000
What price were the new shares issued for and how much share premium was received on each new share?
$1.575 issue price, 57.5 cents premium per share
39.375 cents issue price, 14.375 cents premium per share
39.375 cents issue price, 57.5 cents premium per share
$1.575 issue price, 14.375 cents premium per share
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