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How much is the amount of total share premium

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Question - X a newly formed company which was authorized to issue 500,000 shares have the following transactions 1. Issued 200,000 shares of 20 par value at 25 per share. The During the period of 2020 , the entity reported a net income of 1,000,000 and paid cash dividend of 500,000 . In the same year the company purchased 10,000 ordinary shares at 15 per shares, 5,000 shares were sold at 10 per share and the remaining treasury shares were retired. The entity used cost method of accounting for treasury shares. How much is the amount of total Share premium on treasury transaction to be presented in the balance sheet of X?

Reference no: EM132977545

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