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Question 2. June 2014 (F7 paper)

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Question 2. June 2014 (F7 paper)

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  • December 2, 2015 at 8:46 am #286911
    Artem
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    Good afternoon! Could somebody explain how the 5/7 ratio was calculated in regards to preparation of Statement of changes in equity? Thank you in advance!

    Here is extract from Answer sheet:
    The number of shares prior to the 2 for 5 rights issue was 160 million (56,000 x 4 (i.e. 25 cents shares) x 5/7). Therefore the rights issue was 64 million shares at 60 cents each, giving additional share capital of $16 million (64 million x 25 cents)
    and share premium of $22·4 million (64 million x (60 cents – 25 cents))

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