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What amount should Hyun Bin report for share premium

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Reference no: EM132876273

Question - Hyun Bin Company was organized on January 1, 2020, with authorized share capital of P100,000 shares of P20 par value. During the year, Hyun Bin had the following transactions affecting shareholders' equity:

January 10 - Issued 25,000 shares at P22 a share

March 25 - Issued 1,000 shares for legal services when the fair value was P24 a share

September 30 - Issued 5,000 shares for a tract of land when the fair value was P26 a share

Required - What amount should Hyun Bin report for share premium at December 31, 2020?

Reference no: EM132876273

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