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In DUGGAN CO sum from Kaplan Exam Kit, How did share premium of 1800 come?
Mention the question number or explain the question here so it will be easy for providing a guidance
It comes from the excess of the proceeds received from the share issue above the par value of $1.
We received $2.20 per share, the par value is $1. The excess is therefore $1.20 ($2.20 – $1.00) and this is then multiplied by the 1.5 million shares issued.
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