On March 1, 20x1 Lizza Corporation issued 100,000 ordinary shares of P1 par for P5 per share when it began operations. It issued additional 50,000 shares in 20x2 for P10 per share. In 20x4, Lizza Corporation acquired 3,000 ordinary shares of its P1 par value at P35 per share. During the year, Lizza re-issued 1,500 shares at P50 and 1,000 shares at P25. 1. How much is the Treasury stock at the end of 20x4? 2. How much is the Share Premium Treasury Stock at the end of 20x4? 3. Compute for the number of outstanding shares at the end of 20x4?

On March 1, 20x1 Lizza Corporation issued 100,000 ordinary shares of P1 par for P5 per share when it began operations. It issued additional 50,000 shares in 20x2 for P10 per share. In 20x4, Lizza Corporation acquired 3,000 ordinary shares of its P1 par value at P35 per share. During the year, Lizza re-issued 1,500 shares at P50 and 1,000 shares at P25. 1. How much is the Treasury stock at the end of 20x4? 2. How much is the Share Premium Treasury Stock at the end of 20x4? 3. Compute for the number of outstanding shares at the end of 20x4?

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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