INDUSTRY Company had 40,000 shares of P10 par value treasury shares. These shares were reacquired at a cost of P800,000. During the current year, the company reissued 30,000 shares at P25 per share. At December 31, what amount should INDUSTRY Company recognize as a restriction to retained earnings? * None of the choices O 200,000 O 300,000 O 250,000 O 800,000

INDUSTRY Company had 40,000 shares of P10 par value treasury shares. These shares were reacquired at a cost of P800,000. During the current year, the company reissued 30,000 shares at P25 per share. At December 31, what amount should INDUSTRY Company recognize as a restriction to retained earnings? * None of the choices O 200,000 O 300,000 O 250,000 O 800,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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