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What amount of share premium to be credited on issuance

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Problem 1: On October 17, ORANGE Company issued 15,000 shares of its ?100 par ordinary share in acquiring a land that has a fair value of ? 1,700,000 during that date. The ordinary share is actively selling at ?120 per share. On December 31, the land has a fair value of ?2,100,000. What is the amount of share premium to be credited on the issuance of shares?

a. ? 300,000
b. ? 600,000
c. ? 200,000
d. ? 500,000

Reference no: EM132739837

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