During the year, BFAR Corp. completed the following transactions related to its treasury shares: March 17: Re-acquired 2,000 shares at ₱10 per share May 24: Sold 1,000 of the treasury shares at ₱12 per share August 6: Sold 500 of the treasury shares at ₱9 per share September 21: Received 742 donated shares November 30: Sold all the donated shares for ₱14 per share The Share Premium account has no balance at the start of the year. H

During the year, BFAR Corp. completed the following transactions related to its treasury shares: March 17: Re-acquired 2,000 shares at ₱10 per share May 24: Sold 1,000 of the treasury shares at ₱12 per share August 6: Sold 500 of the treasury shares at ₱9 per share September 21: Received 742 donated shares November 30: Sold all the donated shares for ₱14 per share The Share Premium account has no balance at the start of the year. H

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 1MC

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Concept explainers

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.

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During the year, BFAR Corp. completed the following transactions related to its treasury shares:

March 17: Re-acquired 2,000 shares at ₱10 per share
May 24: Sold 1,000 of the treasury shares at ₱12 per share
August 6: Sold 500 of the treasury shares at ₱9 per share
September 21: Received 742 donated shares
November 30: Sold all the donated shares for ₱14 per share

The Share Premium account has no balance at the start of the year. How much is total share premium at year-end?

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