A company retired 50,000 shares of P5 par value common stock it held in treasury at an average cost of P26 per share on December 31, 2022. The balances of stockholders' equity accounts before recording the retirement of the treasury stock are Common stock P1.080.000 Additional paid-in capital 1,500,000 Retained earnings 1,800,000 Treasury stock, at cost 1,300,000 The company should report common stock outstanding in the December 31, 2022 balance sheet of
A company retired 50,000 shares of P5 par value common stock it held in treasury at an average cost of P26 per share on December 31, 2022. The balances of stockholders' equity accounts before recording the retirement of the treasury stock are Common stock P1.080.000 Additional paid-in capital 1,500,000 Retained earnings 1,800,000 Treasury stock, at cost 1,300,000 The company should report common stock outstanding in the December 31, 2022 balance sheet of
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A company retired 50,000 shares of P5 par value common stock it held in treasury at an average cost of P26 per share on December 31, 2022. The balances of
Common stock
P1.080.000
Additional paid-in capital
1,500,000
1,800,000
Treasury stock, at cost
1,300,000
The company should report common stock outstanding in the December 31, 2022
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