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What should be balance of the Share Premium-Ordinary Share

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Reference no: EM132863858

Question - During its first year of operations Gambas Corporation had the following transactions relating to its ordinary shares:

Issued 80,000 shares for cash at 60 per share

Issued 500 shares to lawyers in payment of a bill for 35,000 for services rendered in helping the company to register the corporation

Issued 30,000 shares for cash at 68 per share

Issued 10,000 shares for cash at 75 per share

If the par value of the share is 60, what should be the balance of the Share Premium-Ordinary Share?

Reference no: EM132863858

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