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What the share premium-ordinary account will be credited for

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Problem 1: Ozz Corp. issues 1,000 5 par value ordinary shares and 1,000 20 par value preference shares for a lump sum of 60,000. At the issue date, the ordinary shares were selling for 36 and the preference shares were selling for 28. The Share Premium-Ordinary account will be credited for

a. 31,000

b. 36,000

c. 26,250

d. 28,750

Reference no: EM132928390

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