Ordinary Share Capital, P20 par. Share Premium. P8,000,000 2,400,000 1,275,000 Retained Earnings. All ordinary shares outstanding at Dec. 31,2020 were issued in 2020 for P26 a share, On Jan, 4,2021, Amelia reacquired 20,000 of its ordinary shares at P24 a share and retired them. Immediately after the shares were retired, total Share Premium was Select the correct response: O P2,400,000 O P2,000,000 O P2,320,000 O 2280,000 ( Previous Continue >
Ordinary Share Capital, P20 par. Share Premium. P8,000,000 2,400,000 1,275,000 Retained Earnings. All ordinary shares outstanding at Dec. 31,2020 were issued in 2020 for P26 a share, On Jan, 4,2021, Amelia reacquired 20,000 of its ordinary shares at P24 a share and retired them. Immediately after the shares were retired, total Share Premium was Select the correct response: O P2,400,000 O P2,000,000 O P2,320,000 O 2280,000 ( Previous Continue >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Amelia Corp's shareholders' equity accounts at Dec. 31,2020 were as follows:
Ordinary Share Capital, P20 par.
Share Premium.
P8,000,000
2,400,000
1,275,000
Retained Earnings.
All ordinary shares outstanding at Dec. 31,2020 were issued in 2020 for P26 a share. On Jan. 4,2021, Amelia reacquired 20,000 of its ordinary shares at P24 a share and retired them. Immediately after the shares
were retired, total Share Premium was
Select the correct response:
O P2,400,000
O P2,000,000
O P2,320,000
O 2,280,000
( Previous
Continue >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc4cf9d8c-7785-4e85-bc47-de7650d3d10e%2F2de92005-fee3-48a9-b18c-518bbdd0f724%2Fydfiylf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Amelia Corp's shareholders' equity accounts at Dec. 31,2020 were as follows:
Ordinary Share Capital, P20 par.
Share Premium.
P8,000,000
2,400,000
1,275,000
Retained Earnings.
All ordinary shares outstanding at Dec. 31,2020 were issued in 2020 for P26 a share. On Jan. 4,2021, Amelia reacquired 20,000 of its ordinary shares at P24 a share and retired them. Immediately after the shares
were retired, total Share Premium was
Select the correct response:
O P2,400,000
O P2,000,000
O P2,320,000
O 2,280,000
( Previous
Continue >
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