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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

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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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 a paid-in capital?

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