9706/12 Accounting Feb Mar 2021 Online Test | Cambridge AS and A Level MCQ

A company provided the following information.
The following actions took place during the year ended 31 December.
1 A bonus issue of one ordinary share for every two ordinary shares held on 1 January.
2 A rights issue of 50000 ordinary shares at $1.25 each. The issue was fully subscribed.
3 A transfer, $25000, to create a general reserve.
4 A dividend, $11 250, was paid.
The profit…