Sizzle Company shareholders' equity at the beginning of 2010 is shown at the table below:Ordinary Share capital, USD20authorized 50,000 shares; issued andoutstanding 30,000 sharesparvalue,USD600,000Ordinary Share premiumUSD150,000Retained earningsUSD230,000In addition, during the year, these transactions happened:а.2,500 shares were repurchased as treasury shares at a price of USD28pershare.b.share.500 treasury shares were sold at a price of USD32700 shares of treasury shares were sold at a price of USD24 per share.perс.d.Sizzle Company reported a net income of USD120,000 for the current year.Please calculate the balance of the Share Premium – Treasury Shares account of Sizzle Company afterrecoding all these transactions. Show complete solution and explanation.

Name: Sizzle Company shareholders' equity at the beginning of 2010 is shown
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Description: Sizzle Company shareholders' equity at the beginning of 2010 is shown at the table below:Ordinary Share capital, USD20authorized 50,000 shares; issued andoutstanding 30,000 sharesparvalue,USD600,000Ordinary Share premiumUSD150,000Retained earningsUS

The treasury stock includes the shares that are repurchased from the shareholders of the business.

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Sizzle Company shareholders' equity at the beginning of 2010 is shown at the table below: Ordinary Share capital, USD20 authorized 50,000 shares; issued and outstanding 30,000 shares Ordinary Share premium par value, USD600,000 USD150,000 Retained earnings USD230,000 In addition, during the year, these transactions happened: 2,500 shares were repurchased as treasury shares at a price of USD28 per share. 500 treasury shares were sold at a price of USD32 700 shares of treasury shares were sold at a price of USD24 per share. Sizzle Company reported a net income of USD120,000 for the current year. а. b. per share. с. d. Please calculate the balance of the Share Premium – Treasury Shares account of Sizzle Company after recoding all these transactions. Show complete solution and explanation.

Sizzle Company shareholders' equity at the beginning of 2010 is shown at the table below: Ordinary Share capital, USD20 authorized 50,000 shares; issued and outstanding 30,000 shares Ordinary Share premium par value, USD600,000 USD150,000 Retained earnings USD230,000 In addition, during the year, these transactions happened: 2,500 shares were repurchased as treasury shares at a price of USD28 per share. 500 treasury shares were sold at a price of USD32 700 shares of treasury shares were sold at a price of USD24 per share. Sizzle Company reported a net income of USD120,000 for the current year. а. b. per share. с. d. Please calculate the balance of the Share Premium – Treasury Shares account of Sizzle Company after recoding all these transactions. Show complete solution and explanation.

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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