Homework Help is Here – Start Your Trial Now!
Business
Accounting
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
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
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 P900,000 O P690,000 ( Previous Conti
Transcribed Image Text: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 P900,000 O P690,000 ( Previous Conti
Expert Solution
steps

Step by step

Solved in 3 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Depletions and Amortizations
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS