Rayan Corporation was organized on January 1, 2020, with an authorization of 1,200,000 ordinary shares with a par value of $7 per share. During 2020, the corporation had the :following capital transactions January 5 issued 775,000 shares @ $10 per share July 28 purchased 80,000 shares @ $11 per share December 31 sold the 80,000 shares held in treasury @ $17 per share Percy used the cost method to record the purchase and reissuance of the treasury shares. What is the total amount of share ?premium as of December 31, 2020
Rayan Corporation was organized on January 1, 2020, with an authorization of 1,200,000 ordinary shares with a par value of $7 per share. During 2020, the corporation had the :following capital transactions January 5 issued 775,000 shares @ $10 per share July 28 purchased 80,000 shares @ $11 per share December 31 sold the 80,000 shares held in treasury @ $17 per share Percy used the cost method to record the purchase and reissuance of the treasury shares. What is the total amount of share ?premium as of December 31, 2020
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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