At 1 July 2015 a limited liability company’s capital structure was as follows: USD Share capital 1,000,000 shares of 50c each 500,000 Share premium account 400,000 In the year ended 30 June 2016 the company made the following share issues:1 January 2016: A bonus issue of one share for every four in issue at that date, using the share premium account.1 April 2016: A rights issue of one share for every ten in issue at that date, at USD1.50 per share.What will be the balances on the company’s share capital and share premium accounts at 30 June 2016 as a result of these issues?
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1 .Which of these statements about limited liability companies is/are correct?(1) A company might make a bonus (capitalisation) issue to raise funds for expansion.(2) Both realised and unrealised gains and losses are included in the statement of comprehensive income required by IAS 1 Presentation of Financial Statements.
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