Peebles Company purchased 2,000 shares of its own £5 par value ordinary shares, paying £14 per share. The shares were originally sold for £9 each. The journal entry to record the purchase of treasury shares includes a debit to Select one: O a. Cash £10,000 b. Share Premium-Ordinary for £8.000 C. Share Capital-Ordinary for E10.000 O d. Treasury Shares for £28,000.

Peebles Company purchased 2,000 shares of its own £5 par value ordinary shares, paying £14 per share. The shares were originally sold for £9 each. The journal entry to record the purchase of treasury shares includes a debit to Select one: O a. Cash £10,000 b. Share Premium-Ordinary for £8.000 C. Share Capital-Ordinary for E10.000 O d. Treasury Shares for £28,000.

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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Sh8
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