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
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Please do answer the last two sub which is the two Journal Entries. Thank you. *Prepare the Journal Entry, assuming Pure sold 200 treasury shares at 20 each and *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
200,000
Share Premium-Ordinary
95,000
Share Premium-Treasury
2, 000
Treasury Stock, (1, 000 shares, at cost)
25,000
Required:
Number of Shares issued
-
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.
Transcribed Image Text: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 200,000 Share Premium-Ordinary 95,000 Share Premium-Treasury 2, 000 Treasury Stock, (1, 000 shares, at cost) 25,000 Required: Number of Shares issued - 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.
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