The capital account of Gene, Inc. on December 31, 2014 were as follows: Preference share capital, 20,000 share, P20 par 400,000 Share premium – preference 160,000 Ordinary share capital, 50,000 shares, P80 par 4,000,000 Share premium – ordinary 600,000 Retained earnings 360,000 During the year ending December 31, 2015, the following summarizes the transactions affecting the shareholders’ equity. April 30 1,000 preference shares were retired at P25 per share. June 15 2,000 treasury shares, ordinary, were purchased at P85 per share. June 30 A two-for-one ordinary share split was declared. July 31 800 treasury shares were reissued P50 per share. December 31 Profit for 2015 was P300,000.
18.
The capital account of Gene, Inc. on December 31, 2014 were as follows:
|
|
400,000 |
|
Share premium – preference |
160,000 |
|
Ordinary share capital, 50,000 shares, P80 par |
4,000,000 |
|
Share premium – ordinary |
600,000 |
|
|
360,000 |
During the year ending December 31, 2015, the following summarizes the transactions affecting the shareholders’ equity.
|
April 30 |
1,000 preference shares were retired at P25 per share. |
|
June 15 |
2,000 treasury shares, ordinary, were purchased at P85 per share. |
|
June 30 |
A two-for-one ordinary share split was declared. |
|
July 31 |
800 treasury shares were reissued P50 per share. |
|
December 31 |
Profit for 2015 was P300,000. |
What was the total share premium on December 31, 2015?
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