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What is the effect of retirement to total share premium

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Question - As of May 31, 2020, ABC has issued 200,000 shares at 30 dollars with par value of 20. On June 2, 2020, ABC reacquired 40,000 ordinary shares at $40. Out of these shares, 50% was reissued at $45, 30% was reissued at $35. The remaining balance was retired. What is the effect of retirement to total Share Premium?

A. Decrease 160,000

B. Decrease 120,000

C. Increase 160,000

D. Increase 100,000

Reference no: EM133122469

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