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Wonka plc has the following ledger account balances as of 1 September 20X5: Shar...
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Wonka plc has the following ledger account balances as of 1 September 20X5:
Share capital (£0.50 equity shares) £200,000
Share premium account £20,000
On 1 November 20X5 Wonka plc made a 1 for 4 rights issue at £4.50 per share. On 31 August 20X6 it made a 1 for 1 bonus issue from the share premium account.
What are the balances on the two ledger accounts (i.e. share capital and share premium) as of 31 August 20X6?
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