Paper 1 February/March 2016 Accounting (9706/12) A Level

X Limited had the following equity on 1 January.
During the year ended 31 December, the following transactions took place.
1 January a bonus issue of 1 ordinary share for every 8 ordinary shares; it is the company’s policy to keep its reserves in the most flexible form
1 July an issue of debentures for $150000
1 December a rights issue of 1 ordinary share for every 15 ordinary shares at a price of $1.60 per share;…