Caviar Company was organized on January 1, 2020 with 100,000 authorized shares of P100 par value. On January 5, the entity issued 75,000 shares at P140 per share. On December 31, the entity purchased 5,000 shares at P110 per share. The par value method is used to record the purchase of the treasury shares. What is the balance of the share premium from treasury shares on December 31, 2020
Caviar Company was organized on January 1, 2020 with 100,000 authorized shares of P100 par value. On January 5, the entity issued 75,000 shares at P140 per share. On December 31, the entity purchased 5,000 shares at P110 per share. The par value method is used to record the purchase of the treasury shares. What is the balance of the share premium from treasury shares on December 31, 2020
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Caviar Company was organized on January 1, 2020 with 100,000 authorized shares of P100
par value. On January 5, the entity issued 75,000 shares at P140 per share. On December 31,
the entity purchased 5,000 shares at P110 per share. The par value method is used to record the
purchase of the treasury shares. What is the balance of the share premium from treasury shares
on December 31, 2020
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