On January 1, 2020, Volume Company had the following account balance carried over from the previous year [Refer to the figure]. It had 42,000 outstanding shares with a par value of P10. During the year, it repurchased 2,000 shares as treasury for P20 each. The beginning balance of treasury shares were reissued at P16 each. Half of the newly purchased treasury shares were retired. What is the ending balance of the Share Capital? What is the ending balance of the Share Premium - Ordinary? What is the ending balance of the Share Premium - Treasury?
On January 1, 2020, Volume Company had the following account balance carried over from the previous year [Refer to the figure]. It had 42,000 outstanding shares with a par value of P10. During the year, it repurchased 2,000 shares as treasury for P20 each. The beginning balance of treasury shares were reissued at P16 each. Half of the newly purchased treasury shares were retired. What is the ending balance of the Share Capital? What is the ending balance of the Share Premium - Ordinary? What is the ending balance of the Share Premium - Treasury?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On January 1, 2020, Volume Company had the following account balance carried over from the previous year [Refer to the figure]. It had 42,000 outstanding shares with a par value of P10. During the year, it repurchased 2,000 shares as treasury for P20 each. The beginning balance of treasury shares were reissued at P16 each. Half of the newly purchased treasury shares were retired.
What is the ending balance of the Share Capital?
What is the ending balance of the Share Premium - Ordinary?
What is the ending balance of the Share Premium - Treasury?
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