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By how much share premium would increase on February

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Question - A corporation was organized in January 2016 with authorized capital of P10 par value ordinary shares. On February 1, 2019, shares were issued at par for cash. On March 1, 2019, the corporation's attorney accepted 7,000 ordinary shares in settlement for legal services with a fair value of P90,000. By how much share premium would increase on February 1, 2019 and March 1?

Reference no: EM132979925

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