Santol Company retired 50,000 ordinary shares, P5 par value, which it held in the treasury at an average cost of P26 per share on December 31, 2021. The balance in Santol's shareholders' equity accounts before recording the retirement of the treasury shares are: Ordinary share capital 1,080,000 Share premium 1,500,000 Treasury shares (at cost) 1,300,000 Retained earnings 1,800,000 Santol company should reported ordinary shares outstanding in its December 31, 2021 statement of financial position of?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Santol Company retired 50,000 ordinary shares, P5 par value, which it held in the treasury at an average cost of P26 per share on December 31, 2021. The balance in Santol's shareholders' equity accounts before recording the retirement of the treasury shares are:

Ordinary share capital 1,080,000

Share premium 1,500,000

Treasury shares (at cost) 1,300,000

Retained earnings 1,800,000

Santol company should reported ordinary shares outstanding in its December 31, 2021 statement of financial position of?

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