Company & wished to make a rights issue to raise further finance. A shareholder has written to
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Company & wished to make a rights issue to raise further finance. A shareholder has written to the chairman with the following comment I cannot understand why you need to make a rights issue when the balance sheet shows that you already have all those unused reserves under the financed by section. I propose that you use those first. Draft a reply to the shareholder explaining the meaning of 'reserves in the balance sheet.
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