Read the transactions carefully and prepare a Journal Entry. Problem the account belowappeared in the Dec 31, 2014 trial balance of Pure Company: Ordinary Shares, P15 par, 20,000 shares P270,000 Authorized, 18, 000 shares issued Retained Earnings Share Premium-Ordinary 200,000 95,000 Share Premium-Treasury 2, 000 Treasury Stock, (1, 000 shares, at cost) 25,000 Required: - Number of Sharesissued - Number of shares in treasury Number of outstanding shares Prepare the Journal Entry, assuming Pure sold 200 treasury shares at 20 each Prepare the Journal Entry, assuming Pure retired 300 treasury shares.

Read the transactions carefully and prepare a Journal Entry. Problem the account belowappeared in the Dec 31, 2014 trial balance of Pure Company: Ordinary Shares, P15 par, 20,000 shares P270,000 Authorized, 18, 000 shares issued Retained Earnings Share Premium-Ordinary 200,000 95,000 Share Premium-Treasury 2, 000 Treasury Stock, (1, 000 shares, at cost) 25,000 Required: - Number of Sharesissued - Number of shares in treasury Number of outstanding shares Prepare the Journal Entry, assuming Pure sold 200 treasury shares at 20 each Prepare the Journal Entry, assuming Pure retired 300 treasury shares.

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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