Paper 1 May/June 2022 Accounting (9706/11) A Level
The equity section of the statement of financial position of a limited company at 1 January is shown.
On 28 February, the company made a rights issue of 1 new share for every 3 existing shares held at a premium of $1.50 per share. The rights issue was fully subscribed.
How much cash was received from the rights issue?