BFAR Company has the following transactions: • Acquired 8,000 shares of its own outstanding shares at P20 per share on February 5, 2022. Sold 4,000 of these shares at P27 per share on August 9, 2022. On November 1, 2022, sold 2,000 shares from its treasury for P18. . The cost method is used to record treasury shares transactions. The par value of the shares is P15. Compute the cost of remaining treasury shares.

BFAR Company has the following transactions: • Acquired 8,000 shares of its own outstanding shares at P20 per share on February 5, 2022. Sold 4,000 of these shares at P27 per share on August 9, 2022. On November 1, 2022, sold 2,000 shares from its treasury for P18. . The cost method is used to record treasury shares transactions. The par value of the shares is P15. Compute the cost of remaining treasury shares.

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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