23. At the beginning of the current year, Rama Company had 20,000 treasury shares of P100 par value that had been acquired in the prior year at P120 per share. In December, the entity reissued 15,000 of these treasury shares at P150 per share. What amount should be reported as a restriction of retained earnings as a result of the treasury share transaction at year-end? a. 2,400,000 b. 1,800,000 c. 600,000 d. 500,000 24. Brown Coy provided the following shareholders equity at year-end: Share capital, P30 par, 100,000 shares authorized and outstanding 3,000,000 Share premium 1,500,000 Retained earnings (deficit) (2,100,000) The entity put into effect quasi-organization by reducing the par value of the share to P5 and eliminating the deficit against the share premium. Immediately after the quasi-reorganization, what amount should be reported as share premium? a. 1,500,000 b. 1,900,000 c. 4,000,000 d. 600,000