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At what amount would increase as a result of transaction

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Question - On February 14, 2020 DAVID Co. issued 60,000 shares of its P100 par value ordinary shares and 40,000 shares of its P50 par value preference shares for a total amount of P9,000,000. As of February 14, DAVID's ordinary shares were trading at P140 while its preference shares were selling at P90 per share. At what amount would the "Share Premium-Preference" account would increase as a result of the transaction?

Reference no: EM132916410

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