On December 31, 2021, WHITE Company reports the following amounts in its shareholders' equity section: Ordinary Shares, P2,400,000; Share Premium in excess of stated value, P900,000; Accumulated Profits, P1,180,000; Treasury Shares-ordinary, P180,000. The ordinary share has a stated value of P50 per share. Two hundred thousand shares of ordinary are authorized, and 4,000 shares are held in the treasury.

On December 31, 2021, WHITE Company reports the following amounts in its shareholders' equity section: Ordinary Shares, P2,400,000; Share Premium in excess of stated value, P900,000; Accumulated Profits, P1,180,000; Treasury Shares-ordinary, P180,000. The ordinary share has a stated value of P50 per share. Two hundred thousand shares of ordinary are authorized, and 4,000 shares are held in the treasury.

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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