During 2022, Sunflower Corporation had the following capital transactions: January 5 - Issued 300,000 shares of P6 par at P12 per share April 6 - Issued 100,000 shares of P6 par at P14 per share June 8 - Issued 120,000 shares of P6 par at P16 per share July 28 - Purchased 40,000 shares at P12 per share December 31 - Sold the 40,000 shares held in treasury at P20 per share Sunflower used the cost method to record the purchase and reissuance of the treasury shares. What is the total amount of share premium as of December 31, 2022?
During 2022, Sunflower Corporation had the following capital transactions: January 5 - Issued 300,000 shares of P6 par at P12 per share April 6 - Issued 100,000 shares of P6 par at P14 per share June 8 - Issued 120,000 shares of P6 par at P16 per share July 28 - Purchased 40,000 shares at P12 per share December 31 - Sold the 40,000 shares held in treasury at P20 per share Sunflower used the cost method to record the purchase and reissuance of the treasury shares. What is the total amount of share premium as of December 31, 2022?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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During 2022, Sunflower Corporation had the following capital transactions:
January 5 - Issued 300,000 shares of P6 par at P12 per share
April 6 - Issued 100,000 shares of P6 par at P14 per share
June 8 - Issued 120,000 shares of P6 par at P16 per share
July 28 - Purchased 40,000 shares at P12 per share
December 31 - Sold the 40,000 shares held in treasury at P20 per share
Sunflower used the cost method to record the purchase and reissuance of the treasury shares. What is the total amount of share premium as of December 31, 2022?
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