The data below are from the December 31, 2017, balance sheet of CAREBEAR CO Common stock, P10 par Paid-in capital in excess of par Retained earnings P500,000 150,000 600,000 During 2018, the following transactions affecting corporate capital were recorded: Aug. 01 Sep. 15 Oct. 07 Purchased 6,000 shares of treasury stock at P15 per share Reissued 1,500 treasury shares at P20 per share Reissued 1,500 treasury shares at P13 per share Retired the remaining treasury shares. Nov. 30 The treasury shares are accounted for using the cost method.

The data below are from the December 31, 2017, balance sheet of CAREBEAR CO Common stock, P10 par Paid-in capital in excess of par Retained earnings P500,000 150,000 600,000 During 2018, the following transactions affecting corporate capital were recorded: Aug. 01 Sep. 15 Oct. 07 Purchased 6,000 shares of treasury stock at P15 per share Reissued 1,500 treasury shares at P20 per share Reissued 1,500 treasury shares at P13 per share Retired the remaining treasury shares. Nov. 30 The treasury shares are accounted for using the cost method.

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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