BFAR Corporation reported the following shareholders' equity on January 1, 2022: Share capital, P10 par, outstanding 225,000 shares 2,250,000 Share premium Accumulated profits 2,190,000 During the current year, the entity had the following share transactions: Acquired 6,000 treasury shares for P270,000. Sold 3,600 treasury shares at P50 a share. Sold the remaining treasury shares at P41 per share. Compute the total Shareholders' Equity at year-end. ● ● ● 5,888,400 5,078,400 5,348,400 900,000 5,618,400

BFAR Corporation reported the following shareholders' equity on January 1, 2022: Share capital, P10 par, outstanding 225,000 shares 2,250,000 Share premium Accumulated profits 2,190,000 During the current year, the entity had the following share transactions: Acquired 6,000 treasury shares for P270,000. Sold 3,600 treasury shares at P50 a share. Sold the remaining treasury shares at P41 per share. Compute the total Shareholders' Equity at year-end. ● ● ● 5,888,400 5,078,400 5,348,400 900,000 5,618,400

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 5MCQ

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