The equity reserves of Carlo on 1 February 20X8 were as follows: Share capital Share premium Share capital ($1 shares) $43,000 Share premium $12,000 Retained earnings $36,760 On 1 July 20X8, Carlo issued 2,000 shares in a bonus issue utilising the share premium account to fund the issue. On 1 November 20X8, Carlo issued 4,500 shares for $1.40 per share. What is the balance on the share capital and share premium after both share issues have taken place?

The equity reserves of Carlo on 1 February 20X8 were as follows: Share capital Share premium Share capital ($1 shares) $43,000 Share premium $12,000 Retained earnings $36,760 On 1 July 20X8, Carlo issued 2,000 shares in a bonus issue utilising the share premium account to fund the issue. On 1 November 20X8, Carlo issued 4,500 shares for $1.40 per share. What is the balance on the share capital and share premium after both share issues have taken place?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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