Immediately after retirement of these 100,000 shares, the balances in the share premium and retained earnings respectively, should be * The stockholders' equity section of JON Corporation's balance sheet at December 31, 2022, was as follows: Ordinary shares (P10 par value, authorized 1,000,000 shares, issued and outstanding 900,000 shares) P 9,000,000 2,700,000 Share premium Retained earnings On January 2, 2023, JON purchased and retired 100,000 shares of its stock for P1,800,000. 1,300,000
Immediately after retirement of these 100,000 shares, the balances in the share premium and retained earnings respectively, should be * The stockholders' equity section of JON Corporation's balance sheet at December 31, 2022, was as follows: Ordinary shares (P10 par value, authorized 1,000,000 shares, issued and outstanding 900,000 shares) P 9,000,000 2,700,000 Share premium Retained earnings On January 2, 2023, JON purchased and retired 100,000 shares of its stock for P1,800,000. 1,300,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Immediately after retirement of these 100,000 shares, the balances in the share premium and
retained earnings respectively, should be *
The stockholders' equity section of JON Corporation's balance sheet at December 31, 2022, was
as follows:
Ordinary shares (P10 par value, authorized 1,000,000 shares,
issued and outstanding 900,000 shares)
P 9,000,000
2,700,000
Share premium
Retained earnings
On January 2, 2023, JON purchased and retired 100,000 shares of its stock for P1,800,000.
1,300,000
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