Mae Jong Corp.issued 1,000 convertible bonds at the beginning of 2015.The bonds have a four-year term with a stated rate of interest of 6 percent, and are issued at par with a face value of €1,000 per bond (the total proceeds received from issuance of the bonds are €1,000,000).Interest is payable annually at December 31.Each bond is convertible into 250 ordinary shares with a par value of €1.The market rate of interest on similar non-convertible debt is 9 percent.Assume that at the issuance date, €97,187 was credited to Share Premium-Conversion Equity and that the bonds were not converted until maturity.What amount will Mae Jong credit to Share Premium-Ordinary at the maturity date?

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At maturity, the bonds are converted into shares. The face value of the bonds is €1,000,000, and €97,187 was initially credited to Share Premium-Conversion Equity. The conversion results in 250,000 shares (1,000 bonds x 250 shares per bond). The Share Premium-Ordinary is calculated as the difference between the total bond value and the par value of the shares issued: €1,000,000 - €250,000 (par value of shares) + €97,187 (conversion equity) = €847,187.