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How much is charged to retained earnings in the issuance

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Reference no: EM132828133

On January 1,2019, ABC Company issued 2,000 ordinary shares with a par value of P 20 for P 25 each. Transactions cost of P 15,000 related to issuance was also incurred. The balance of the Ordinary share premium account as of this date is P 25,000.

Problem 1: How much is charged to Retained earnings in the issuance of the 2,000 ordinary shares?

Reference no: EM132828133

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