On January 5, 20x3, Sunny Company issued for P20 per share100,000 ordinary shares of with par of P10. Of these 5,000shares were held as treasury stock on December 31, 20x5. Thesetreasury stocks were reacquired on January 15, 20x5 for P52.During 20x6, transactions were as follows:1,000 shares of treasury stock were sold forP50March 210,000 shares of the previously unissuedJuly 6stock were sold for P55November 18A 2 for 1 stock split took effect1. Compute the Share Premium Treasury Stock at the end of20x62. Compute the outstanding shares at the end of 20x63. Compute the paid-in capital at the end of 20x6

Under the par value method, treasury stock is accounted for at their par value when repurchased…

On January 5, 20x3, Sunny Company issued for P20 per share 100,000 ordinary shares of with par of P10. Of these 5,000 shares were held as treasury stock on December 31, 20x5. These treasury stocks were reacquired on January 15, 20x5 for P52. During 20x6, transactions were as follows: 1,000 shares of treasury stock were sold for March 2 P50 10,000 shares of the previously unissued July 6 stock were sold for P55 November 18 A 2 for 1 stock split took effect 1. Compute the Share Premium Treasury Stock at the end of 20x6 2. Compute the outstanding shares at the end of 20x6 3. Compute the paid-in capital at the end of 20x6

On January 5, 20x3, Sunny Company issued for P20 per share 100,000 ordinary shares of with par of P10. Of these 5,000 shares were held as treasury stock on December 31, 20x5. These treasury stocks were reacquired on January 15, 20x5 for P52. During 20x6, transactions were as follows: 1,000 shares of treasury stock were sold for March 2 P50 10,000 shares of the previously unissued July 6 stock were sold for P55 November 18 A 2 for 1 stock split took effect 1. Compute the Share Premium Treasury Stock at the end of 20x6 2. Compute the outstanding shares at the end of 20x6 3. Compute the paid-in capital at the end of 20x6

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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