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What is share premium from the issuance of ordinary shares

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Question: Victory Company issued 8,000 ordinary shares with P200 par value and 20,000 preference shares with P200 par value for a total consideration of P7,500,000.

At the date of issue, the ordinary share was selling for P360 and the preference share was selling for P270.

What is the share premium from the issuance of ordinary shares?

Reference no: EM132748022

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