can you please explain the following questions with a balance sheet example? providing answers? (i) Issued 20,000
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Question:
can you please explain the following questions with a balance sheet example? providing answers?
(i) Issued 20,000 ordinary shares of 10 each at a premium of 2.5 per share (a specific issue to redeem preference shares)
(ii a) Redeemed all preference shares at a premium of 10%. These were originally issued at 25% premium
(ii b) Excess of nominal value of shares redeemed over total receipt from new issue 80,000.
(iii) Issued 3,000 5% debentures of 100 each at 80
(iv) Used share premium, if any, to issue fully paid bonus shares to members
(v) Made a net loss of 500,000 by end of year, which affected the bank account.
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