At 30 June 2005 the capital and reserves of Meredith, a limited liability company, were: $m Share capital Ordinary shares of $1 each 100 Share premium account 80 During the year ended 30 June 2006, the following transactions took place: 1 September 2005 A bonus issue of one ordinary share for every two held, using the share premium account. 1 January 2006 A fully subscribed rights issue of two ordinary shares for every five held at that date, at $1·50 per share. What would the balances on each account be at 30 June 2006? Share Share premium capital account $m $m A 210 110 B 210 60 C 240 30 D 240 80
B |