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By what amount should the share premium account of creation

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Reference no: EM132798199

Question - Creation Company issued 6,000 shares of its P100 par ordinary share to Fashion as compensation for 1,000 hours of legal services performed. Fashion usually bills P500 per hour for legal services. On this date of issuance, the share was selling at a public trading at P150 per share. By what amount should the Share Premium account of Creation Company increase as a result of the issuance of those shares?

Reference no: EM132798199

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