If the balance of the share capital account is $300,000 at the beginning of the year and $410,000 at the end of the year, and there has been a 1 for 6 bonus issue of shares at the start of the year, the amount that will appear in the statement of cash flows for proceeds from the issue of shares is:

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The balance increased from $300,000 to $410,000, indicating a $110,000 increase. However, part of this increase is due to a 1 for 6 bonus issue, which does not involve cash flow but rather a reclassification of reserves to share capital. The bonus issue would increase the share capital by $50,000 (1/6 of $300,000). Therefore, the actual cash proceeds from the issue of shares would be the total increase minus the bonus issue portion, which is $110,000 - $50,000 = $60,000.

If the Balance of the Share Capital Account Is $300,000