ABC Co. was organized on January 1, 2019, with an authorization of 1.200.000 ordinary shares with a par value of Rp6 per share. During 2019, the corporation had the capital transactions as provided below. ABC Co. 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, 2019?
ABC Co. was organized on January 1, 2019, with an authorization of 1.200.000 ordinary shares with a par value of Rp6 per share. During 2019, the corporation had the capital transactions as provided below. ABC Co. 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, 2019?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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ABC Co. was organized on January 1, 2019, with an authorization of 1.200.000 ordinary shares with a par value of Rp6 per share. During 2019, the corporation had the capital transactions as provided below. ABC Co. 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, 2019?
Transcribed Image Text:January 5
July 28
December 31
issued 675.000 shares @ Rp10 per share
purchased 90.000 shares @ Rp11 per share
sold the 90.000 shares held in treasury @ Rp18 per share
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