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Hello people,
This is just a general question.
I am working on a set of accounts at the moment and there has been a debit figure on the balance sheet for share premium since pre 2005 year end, constantly b/f & c/f. (i.e. for at least 10 years!)It was my understanding that the share premium account cannot be a debit.
Unfortunatly I dont have records going back further than 2005 so I cant follow it through.It isnt a material figure Im talking about, but Im just curious as to how it arose. I thought Share Premium accounts could only be a credit??
Any ideas?
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