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What is the amount of share premium to be credited

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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) ? 200,000
B) ? 500,000
C) ? 600,000
D) ? 300,000

Reference no: EM132737785

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