1, 20x1 is as 3. LABILE ADAPTABLE Co.'s equity as Share capital (authorized 20,000 shares, P100 par value) Share premium Retained earnings Total shareholders' equity follows: 1,600,000 320,000 1,080.000 3,000.000 LABILE Co. reacquires 1,000 shares at P90 on July 1, 20x1. Requirements: Provide the entries to record the reacquisition and the reissuance under the following independent scenarios: all the treasury shares were reissued on Sept. 1, 20x1 at P140. b. all the treasury shares were reissued on Sept. 1, 20x1 at P60. a.

1, 20x1 is as 3. LABILE ADAPTABLE Co.'s equity as Share capital (authorized 20,000 shares, P100 par value) Share premium Retained earnings Total shareholders' equity follows: 1,600,000 320,000 1,080.000 3,000.000 LABILE Co. reacquires 1,000 shares at P90 on July 1, 20x1. Requirements: Provide the entries to record the reacquisition and the reissuance under the following independent scenarios: all the treasury shares were reissued on Sept. 1, 20x1 at P140. b. all the treasury shares were reissued on Sept. 1, 20x1 at P60. a.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

Question

3. LABILE ADAPTABLE Co.'s equity as of January 1, 20×1 is as
Requirem
Reg
3. LABILE ADAPTABLE Co.'s equity as of January 1, 20x1
follows:
Share capital (authorized 20,000 shares, P100 par value)
Share premium
Retained earnings
Total shareholders' equity
1,600,000
320,000
1,080.000
3,000.000
LABILE Co. reacquires 1,000 shares at P90 on July 1, 20x1.
Requirements: Provide the entries to record the reacquisition and
the reissuance under the following independent scenarios:
a. all the treasury shares were reissued on Sept. 1, 20x1 at P140.
b. all the treasury shares were reissued on Sept. 1, 20x1 at P60.

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