A company has an issued sham capital of 100 000 ordinary shares of $1 each. On 1
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A company has an issued sham capital of 100 000 ordinary shares of $1 each. On 1 June, the company makes a bonus issue of one ordinary share for every four shares held. On 1 September, the company makes a rights issue of one ordinary share for every five shares held at $1.20. The rights issue is fully subscribed. What is the issued share capital of the company as a result of the bonus issue and the rights issue?
A. $120,000
B. $125,000
C. $150,000
D. $155,000
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Related Book For
Accounting For Cambridge International AS And A Level
ISBN: 9780198399711
1st Edition
Authors: Jacqueline Halls Bryan, Peter Hailstone
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