Elquine's share capital and premium move from 3,200,000 to 4,150,000. The increase includes a capitalisation of reserves of 250,000 and shares issued in exchange for a contribution of land for 380,000 (case data). Compute the cash proceeds from share issues.
- Opening share capital and premium
- 3,200,000
- Closing share capital and premium
- 4,150,000
- Capitalisation of reserves
- 250,000
- Shares issued for land contributed
- 380,000