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How much shall be credited to Share Premium Ordinary

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Question - Sam Corporation issues 500 ordinary shares and 100 preference shares, both with par value of 100, for a lump sum price of 85,000.

1. Assume that each ordinary share sells for 150 and each preference share sells for 120. How much shall be credited to Share Premium Ordinary?

2. Assume that each ordinary share sells for 140 and that there is no available market price for the preference share. How much shall be credited to Share Premium-Preference?

Reference no: EM132865295

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