Question: i know c , except that i need clarification counting for Bonus Issue Mobile Limited has authorized share capital of 1,00,000 equity shares @ 10

i know c , except that i need clarification counting for

i know c , except that i need clarification

counting for Bonus Issue Mobile Limited has authorized share capital of 1,00,000 equity shares @ 10 each. The company has already issued 60% of its capital for cash. Now the company wishes to issue bonus shares in the ratio 1:5 to its existing shareholders. The following is the status of Reserve and Surplus of the company: Answer the following questions: (a) What is the number of Bonus shares to be issued? (b) Can company issue Bonus out of General Reserve only? (c) Give Journal Entries and also give the extracts of the balance-sheet after such Bonus issue. (d) Is it possible for the company to issue partly paid-up bonus shares

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