A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2009 · Q161 Mark
An extract from a company's balance sheet shows the following. $000 issued ordinary shares of $0.25 each 600 share premium account 150 retained profits 300 The company makes a rights issue of one new ordinary share for each three held, at a price of $0.30 per share. All shares were taken up. What does the new balance sheet show?
Aissued ordinary share capital $000 600 share premium $000 120
Bissued ordinary share capital $000 800 share premium $000 150
Cissued ordinary share capital $000 800 share premium $000 190
Dissued ordinary share capital $000 800 share premium $000 600
✓ Correct answer
C: issued ordinary share capital $000 800 share premium $000 190
Practise more questions on this topic
Oracle Prep sorts past-paper questions by topic, so you can drill Preparation of financial statements and see which topics are most likely to come up next.
Sign up free →