ABC Corporation's shareholder's equity section as of January 1, 2015 showed: 100,000 Ordinary share capital, of which 90,000 shares were issued, par value is P10 900,000 Retained Earnings 150.000 Required: Journalize the following transactions, and compute for the new balance of Shareholder's Equity a. 5,000 shares were reacquired and retired immediately at P12 on July 1 2015 b. 4,000 shares were reacquired and retires immediately at P8 on December 31, 2015

ABC Corporation's shareholder's equity section as of January 1, 2015 showed: 100,000 Ordinary share capital, of which 90,000 shares were issued, par value is P10 900,000 Retained Earnings 150.000 Required: Journalize the following transactions, and compute for the new balance of Shareholder's Equity a. 5,000 shares were reacquired and retired immediately at P12 on July 1 2015 b. 4,000 shares were reacquired and retires immediately at P8 on December 31, 2015

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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