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Hello:) In the june 2013 paper question 2 i think ACCA made a mistake .
In the notes section of question 2 Atlas made a 1 for 4 rights issue but in the solution of that question while preparing a statement of changes in equity the adjustments are based on 1 for 5 rights issue.
But the statement of financial position balances 🙂 Confused here .Without looking at the question, let me see if I can guess the problem
What date is the appropriate date for the share capital figure that is given in the question?
Say we start with 4,000 shares and we have a one for four issue
So we issue 1,000 new shares and finish up with 5,000
Now consider that figure of 1,000
It’s a quarter of the opening figure but it’s a fifth of the closing figure so it maybe looks like a one for five
Does that solve the problem or should I look at the question itself?
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