28. On January 1, 2019, the statement of financial position of ABC Co. shows the following information: Share capital (authorized 10,000 shares with par value of P100) 800,000 Share premium 160,000 Retained earnings 540,000 Total shareholders’ equity 1,500,000 On July 1, 2019, ABC reacquires 1,000 shares at P90. If ABC will reissue the shares for P140 each, how much will be the increase/decrease in Share premium?
28. On January 1, 2019, the
Share capital (authorized 10,000 shares with par value of P100) 800,000
Share premium 160,000
Total shareholders’ equity 1,500,000
On July 1, 2019, ABC reacquires 1,000 shares at P90.
If ABC will reissue the shares for P140 each, how much will be the increase/decrease in Share premium?
29. Using the same information from the previous number but this time the treasury are reissued at P60 each, how
much will be the increase/decrease in retained earnings?
30. Using the same information in number 28 but this time the shares will be retired, how much will be total share
premium immediately after the retirement?
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