Question 1 Calculate the amount raised by selling shares. A company has an authorised capital of: 2 million ordinary shares of 1 each 500 000 10% preference shares of 1 each The company has issued (sold): 1 million ordinary shares at a premium of 25p each 500 000 10% preference shares at par Complete the following table to show the amount that was entered in each account. Account Issued Share Capital Issued preference Capital Share premium Account Total in bank Amount