Tang Inc Was Authorized to Issue 500,000 ¥1,000 Par Value Ordinary

Multiple Choice

Tang Inc. was authorized to issue 500,000 ¥1,000 par value ordinary shares. As of December 31, 2014, the company had issued 80,000 shares for proceeds of ¥198,000,000. During 2014, the company purchased 10,000 treasury shares at a total cost of ¥22,000,000. Later in the year, the company sold half of the treasury shares for ¥14,300,000. The balance in retained earnings at December 31, 2014 was ¥324,000,000. The amount of Share Premium reported on the December 31, 2014 statement of financial position is

A) ¥3,300,000.
B) ¥7,700,000.
C) ¥118,000,000.
D) ¥121,300,000.