Question
Rekan CRA Co. STATEMENT OF FINANCIAL POSITION of the Milton Keynes Co. As at 31/12/20X3 (EXTRACT) Share capital (50c) $10,000 Share premium. $7,000 Retained earnings.
Rekan CRA Co.
STATEMENT OF FINANCIAL POSITION of the Milton Keynes Co. As at 31/12/20X3 (EXTRACT)
Share capital (50c) $10,000
Share premium. $7,000
Retained earnings. $8,000
25,000
Rekan CRA Co. decided on a bonus issue of shares of 1 for 4 and will use the share premium account for this purpose.
You are Required
What is the double entry to record the bonus issue of shares and what is the adjusted financial position extract after the bonus issue?
Please give details information
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Accounting And Finance For Lawyers In A Nutshell
Authors: Charles Meyer
7th Edition
1647083001, 9781647083007
