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Determine the amount to be credited

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Question - Parent Company owns 80,000 shares of Subsidiary Company's 100,000 outstanding shares, acquired at book value. The December 31, 20X8 consolidated balance sheet presented by Parent and Subsidiary included net assets by Subsidiary in the amount of P600,000. On January 1, 20X9, Subsidiary issues 25,000 additional ordinary shares to unrelated parties for P175,000. Determine the amount to be credited to "share premium reserve account".

Reference no: EM132875413

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