BananaQ Company was organized on January 1,2020, with an authorization of 400,000 ordinary shares, a par value of P6 per share During 2020, the corporation had the following capital transactions: January-5. July-28 December-31. Sold the 30,000 shares held in treasury at P18 per share Issued 225,000 share at P10 per share Purchased 30,000 shares at P11 per share What is the total amount of Share Premium as of December 31.2020? Select the correct response. O P1,110,000 O PO O P900,000 O P690,000

BananaQ Company was organized on January 1,2020, with an authorization of 400,000 ordinary shares, a par value of P6 per share During 2020, the corporation had the following capital transactions: January-5. July-28 December-31. Sold the 30,000 shares held in treasury at P18 per share Issued 225,000 share at P10 per share Purchased 30,000 shares at P11 per share What is the total amount of Share Premium as of December 31.2020? Select the correct response. O P1,110,000 O PO O P900,000 O P690,000

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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The equity section of JUJI Corporation as of December 31, 2018, was as follows: Share capital—ordinary, par value P20; authorized 20,000 shares; issued and outstanding 10,000 shares P200,000 Share premium—ordinary 300,000 Retained Earnings 750,000 1,250,000 On March 1, 2019, the board of directors declared a 15% share dividend, and accordingly 1,500 additional shares were issued. On March 1, 2019, the fair value of the share was P60 per share. For the two months ended February 28, 2019, JUJI sustained a net loss of P100,000. What amount should JUJI report as retained earnings as of March 1, 2019?
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BananaQ Company was organized on January 1,2020, with an authorization of 400,000 ordinary shares, a par value of P6 per share. During 2020, the corporation had the folloWing capital transactions: January-5. July-28. December-31. Sold the 30,000 shares held in treasury at P18 per share Issued 225,000 share at P10 per share Purchased 30,000 of its own shares at P11 per share How many shares are issued and outstanding as of December 31,2020? Select the correct response: O 370,000 O 400,000 O 225,000 O 195,000 Continue > < Previous
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What is the journal entry for each date
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