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1.TheFMLBoardofDirectorshadbeenworkingontheacquisitionofarivalbusiness andonthe16thJanuary20X4receivedadviceofacceptanceofapurchaseprice.To helpfundtheacquisitionFMLdecidedtoraisesomecapitalthrougharightsissue ofordinaryshares.Theyformalisedtherightsissueattheirmeetingonthe 28thJanuary20X4wheretheydecidedtoofferordinaryshareholderstherights issueona1:12basis.Shareholderswhoaccepttheofferpay85%oftheshareprice onthedayoftheBoarddecision.Acceptanceandpaymentbyshareholdersneeds tobemadeonthe18thFebruary20X4.Theamountpaidisbasedontherounded downnumberofsharesissued.Thefollowingshareholderstookuptheofferand paidtheappropriateamountsontherequireddate what is the journal entry for this?

1.TheFMLBoardofDirectorshadbeenworkingontheacquisitionofarivalbusiness andonthe16thJanuary20X4receivedadviceofacceptanceofapurchaseprice.To helpfundtheacquisitionFMLdecidedtoraisesomecapitalthrougharightsissue ofordinaryshares.Theyformalisedtherightsissueattheirmeetingonthe

28thJanuary20X4wheretheydecidedtoofferordinaryshareholderstherights issueona1:12basis.Shareholderswhoaccepttheofferpay85%oftheshareprice onthedayoftheBoarddecision.Acceptanceandpaymentbyshareholdersneeds tobemadeonthe18thFebruary20X4.Theamountpaidisbasedontherounded downnumberofsharesissued.Thefollowingshareholderstookuptheofferand paidtheappropriateamountsontherequireddate

what is the journal entry for this?

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