The balance sheet of Boscastle ple as at 30 September 1999 may be summarised as follows: On
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The balance sheet of Boscastle ple as at 30 September 1999 may be summarised as follows:
On 1 October 1999, the company makes a 1 for 10 rights issue at a price of £2.50 per share. All of the company's shareholders take up their rights. The company then makes an immediate 1 for 2 bonus issue, financed as far as possible out of the share premium account, with any shortfall being financed out of the general reserve.
Required:
Assuming that no other transactions take place on 1 October 1999, show the summarised balance sheet of the company as at that date.
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