9706/12 Accounting March 2024 Online Test | Cambridge AS & A Level MCQ
At 1 January 2009 the capital structure of a company was as follows.
On 1 April 2009 the company made a rights issue of 20 000 shares of $1 each for $36 000.
On 1 June 2009 a bonus issue of one share for every six in issue was made. The share premium account was used for this purpose.
What is the balance on the share premium account at 31 December 2009?