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Journal entries for bonus issue?

This topic has 5 replies, 4 voices, and was last updated 10 years ago by wahaib116.

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May 11, 2012 at 4:30 am #52594
Sangria9
- Topics: 25
- Replies: 285
What journal entries should be for 1 for 3 bonus issue on share capital of 1,200,000 50c shares?
May 11, 2012 at 12:46 pm #97416
whitedog
- Topics: 17
- Replies: 68
is there a cash reserve or share reserve?
May 11, 2012 at 4:41 pm #97417
Sangria9
- Topics: 25
- Replies: 285
Let’s assume there’s enough balance on share premium a/c.
May 12, 2012 at 4:12 am #97418
Vipin
- Topics: 151
- Replies: 374
bonus issue -1200,000*1/3=400,000 shares

cr share capital 200,000
dr share premium 200,00
May 13, 2012 at 3:15 pm #97419
Sangria9
- Topics: 25
- Replies: 285
Thanks a lot!
I though entries should be the same but with $400,000. I missed that one share is only 50c, not $1.
July 10, 2012 at 11:39 am #97420
wahaib116
- Topics: 0
- Replies: 1
Why this entry is upside down ? Any specific reason for this
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