An analysis of stockholders' equity of Hang Corporation as of January 1, 2020 is as follows: Common stock, par value P20; authorized 100,000. issued and outstanding 90,000 shares P1,800,000 Paid-in capital in excess of par 900,000 Retained earnings 760,000 Total: P 3,460,000 Hang uses the cost method of accounting for treasury stock and during 2020 entry are the following transactions: 1. Acquired 2,500 shares of its stock for P75,000 2. Sold 2,000 treasury shares at P35 per share 3. Sold the remaining treasury shares at P20 per share Assuming no other equity transactions occurred during 2020, what should Hand on Dec 31, 2020, as total apaid-in capital?
An analysis of
Common stock, par value P20; authorized 100,000.
issued and outstanding 90,000 shares P1,800,000
Paid-in capital in excess of par 900,000
Total: P 3,460,000
Hang uses the cost method of accounting for
1. Acquired 2,500 shares of its stock for P75,000
2. Sold 2,000 treasury shares at P35 per share
3. Sold the remaining treasury shares at P20 per share
Assuming no other equity transactions occurred during 2020, what should Hand on Dec 31, 2020, as total apaid-in capital?
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