Hanna Company reported the following shareholders’ equity on January 1, 2015: Share capital, P10 par, outstanding 225,000 shares 2,250,000 Share premium 900,000 Retained earnings 2,190,000 During the year, the entity had the following 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. What is the total amount of share premium on December 31, 2015?
Hanna Company reported the following shareholders’ equity on January 1, 2015: Share capital, P10 par, outstanding 225,000 shares 2,250,000 Share premium 900,000 Retained earnings 2,190,000 During the year, the entity had the following 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. What is the total amount of share premium on December 31, 2015?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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23. Hanna Company reported the following shareholders’ equity on January 1, 2015:
Share capital, P10 par, outstanding 225,000 shares 2,250,000
Share premium 900,000
During the year, the entity had the following 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.
What is the total amount of share premium on December 31, 2015?
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