99. Vicar Company was organized on January 1,2013 with 100,000 authorized shares of PI 00 par value. On January 5, the entity issued 75,000 shares at P140 per share and on December 31, the entity purchased 5,000 shares at P110 per share. The entity used the par value method to record the purchase of the treasury shares. What is the balance of the share premium from treasury shares on December 31,2013? * A. 0 O B. 50,000 O C. 150,000 O D 200,000

99. Vicar Company was organized on January 1,2013 with 100,000 authorized shares of PI 00 par value. On January 5, the entity issued 75,000 shares at P140 per share and on December 31, the entity purchased 5,000 shares at P110 per share. The entity used the par value method to record the purchase of the treasury shares. What is the balance of the share premium from treasury shares on December 31,2013? * A. 0 O B. 50,000 O C. 150,000 O D 200,000

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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Hh1.
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