The analysis of shareholder’s equity of AAA Company at January 1, 2020 showed the following: Ordinary shares, par value P20, authorized 200,000 shares, issued and outstanding , 120,000 shares – P2,400,000 Share premium – P480,000 Retained Earnings – P1,540,000 The company uses the cost method of accounting for treasury shares and the following transactions took place: Acquired 2,000 shares of its shares for P70,000 Sold 1,200 treasury shares at P40 per share 2 for 1 stock split Retired the remaining treasury shares Retained Earnings –? Shareholder’s Equity –?
The analysis of shareholder’s equity of AAA Company at January 1, 2020 showed the following: Ordinary shares, par value P20, authorized 200,000 shares, issued and outstanding , 120,000 shares – P2,400,000 Share premium – P480,000 Retained Earnings – P1,540,000 The company uses the cost method of accounting for treasury shares and the following transactions took place: Acquired 2,000 shares of its shares for P70,000 Sold 1,200 treasury shares at P40 per share 2 for 1 stock split Retired the remaining treasury shares Retained Earnings –? Shareholder’s Equity –?
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
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 16E: Contributed Capital Adams Companys records provide the following information on December 31, 2019:...
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19.2
The analysis of shareholder’s equity of AAA Company at January 1, 2020 showed the following:
Ordinary shares, par value P20, authorized 200,000 shares, issued and outstanding , 120,000 shares – P2,400,000
Share premium – P480,000
The company uses the cost method of accounting for treasury shares and the following transactions took place:
Acquired 2,000 shares of its shares for P70,000
Sold 1,200 treasury shares at P40 per share
2 for 1 stock split
Retired the remaining treasury shares
Retained Earnings –?
Shareholder’s Equity –?
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