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Problem 21-2 (ACP) At the beginning of current year, Alegro Company reported the following issuance of equity shares: 200,000 shares at P20 250,000 shares at P25 During the current year, the entity reacquired 50,000 shares at P20, and these shares were reissued at year-end at P25 per share. 4,000,000 6,250,000 Required: Prepare journal entries to record the foregoing transactions assuming: a. The share has a P15 par value. b. The share is no par with stated value of P20. 745

Problem 21-2 (ACP) At the beginning of current year, Alegro Company reported the following issuance of equity shares: 200,000 shares at P20 250,000 shares at P25 During the current year, the entity reacquired 50,000 shares at P20, and these shares were reissued at year-end at P25 per share. 4,000,000 6,250,000 Required: Prepare journal entries to record the foregoing transactions assuming: a. The share has a P15 par value. b. The share is no par with stated value of P20. 745

FINANCIAL ACCOUNTING
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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n Problem 21-2 (ACP) the following issuance of equity shares: At the beginning of current year, Alegro Company reported 200,000 shares at P20 250,000 shares at P25 shares was a. The share has a P15 par value. b. The share is no par with stated value of P20. per share. at P20, and these shares were reissued at year-end at P25 During the current year, the entity reacquired 50,000 shares Required: assuming: Prepare journal entries to record the foregoing transactions 745 4,000,000 6,250,000
Transcribed Image Text:n Problem 21-2 (ACP) the following issuance of equity shares: At the beginning of current year, Alegro Company reported 200,000 shares at P20 250,000 shares at P25 shares was a. The share has a P15 par value. b. The share is no par with stated value of P20. per share. at P20, and these shares were reissued at year-end at P25 During the current year, the entity reacquired 50,000 shares Required: assuming: Prepare journal entries to record the foregoing transactions 745 4,000,000 6,250,000
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