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Cambridge | Accounting 9706 | W 15 3 3 | 1 hour
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9
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The statement of financial position of a company shows the following balances.

 

$

ordinary shares of $1 each

90 000

share premium

4 000

retained earnings

33 000

 

The company wishes to purchase 40 000 of its ordinary shares at a premium of 5%. It will issue 20000 ordinary shares at par to help finance the purchase.

What will be the balances after these transactions have taken place?

 

ordinary shares

$

capital redemption reserve

$

share premium

$

retained earnings

$

A

70 000

20 000

2 000

13 000

B

70 000

22 000

4 000

11 000

C

90 000

–

2 000

13 000

D

90 000

20 000

4 000

33 000

a

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