Reference no: EM132928207
Tris Corporation was organized on January 1, 2020, with an authorization of 1,200,000 ordinary shares with a par value of 6 per share. During 2020, the corporation had the following capital transactions:
January 5 issued 675,000 shares @ 10 per share
July 28 purchased 90,000 shares @ 11 per share
December 31 sold the 90,000 shares held in treasury @ 18 per share
Problem 1: Tris used the cost method to record the purchase and reissuance of the treasury shares. What is the total amount of share premium as of December 31, 2020?
a. -0-.
b. 2,070,000.
c. 2,700,000.
d. 3,330,000.
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