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At 31 December 2012 the capital section of the business plc’s balance sheet showed on ordinary capital of

Question

At 31 December 2012 the capital section of the business plc’s balance sheet showed on ordinary capital of

10,000,000 equity shares of 25p , and a share premium account of £1000,000 on 30 June the business plc made a 1 for 8 bonus issues, using the share premium account. Calculate the balance on the share premium account of the business plc as 31 December 2013

Managerial Accounting