ACCA考试《F3财务会计》讲义辅导25.docVIP

ACCA考试《F3财务会计》讲义辅导25 本文由高顿ACCA整理发布，转载请注明出处 16.3 Rights issue and bonus issue 　　●Rights issue: 　　The offer of new shares to existing shareholders in proportion to their present shareholding at a stated share price normally below market values The advantages are: 　　- A rights issue is the cheapest way for a company to raise finance through the issuing of further shares. 　　- A right issue to existing shareholding has a greater chance of success compared with a share issue to the public. 　　The disadvantages are: 　　- A right issue is more expensive than issuing debt. 　　- It may not be successful in raising the funds required. 　　A right issue is accounted for in the same way as a normal share issue. 　　●Bonus issue: 　　The issue of new shares to existing shareholders in proportion to their existing shareholding. No cash is received from a bonus issue. 　　The advantages are: 　　- issued share capital is divided into a large number of shares, thus making the market value of each share less, and so more marketable. 　　- Issued share capital is brought more into line with assets employed in the company. 　　The disadvantages are: 　　- the admin costs of making the bonus issue. 　　As no cash is received from the bonus issue, the issues must be funded from reserves. Any reserves can be used, though a non-distributable reserve such as the share premium account would be used in preference to reserves which can be distributed. 　　Dr. Share premium Nominal value Or other reserves Cr. Share capital Nominal value 　　Example: Rich T is a limited liability company with 200,000 25c shares in issue. At 1 January the balance on the share premium account is $75,000. The following transactions occur in the year ended 31 December 2006: 　　31 January There is a fully taken-up 2 for 5rights issue. The issue price is $1.80. 　　12 August There is a 1 for 10 bonus issue made using the share premium account. 　　What are the balances on the share capital and share premium accounts on 31 December 2006 SC SP 　　$