n January 01, 2021, Pagaduan Corporation provided you the following information: Ordinary share capital, 500,000 shares issued, P20 par 10,000,000 Share premium - ordinary shares 4,000,000 Retained earnings 5,700,000 Share capital transactions for the year 2021: March 10 - Reacquired 80,000 ordinary shares at P30 per share April 20 - Reissued 28,000 ordinary treasury shares at P38 per share April 25 - Reissued 27,000 ordinary treasury shares at P22 per share May 13 - Retired 25,000 ordinary treasury shares.
On January 01, 2021, Pagaduan Corporation provided you the following information:
Ordinary share capital, 500,000 shares issued, P20 par 10,000,000
Share premium - ordinary shares 4,000,000
Share capital transactions for the year 2021:
March 10 - Reacquired 80,000 ordinary shares at P30 per share
April 20 - Reissued 28,000 ordinary treasury shares at P38 per share
April 25 - Reissued 27,000 ordinary treasury shares at P22 per share
May 13 - Retired 25,000 ordinary treasury shares.
a. Credit to Share premium - ordinary shares – P54,000
b. Debit to Share premium – Treasury shares – P216,000
c. Debit to Retained Earnings - P216,000
d. Credit to Treasury shares – P540,000
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