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The following accounts are found in the shareholders' equity of Dahlia Corporation: Preference Shares, 8%, par value Php100, authorized 10,000 shares 8,000 shares issued and outstanding Ordinary Shares, par value Php125, authorized and issued 20,000 shares Additional Paid-in Capital: Premium on Ordinary Shares Paid-in Capital from Sale of Treasury Shares Retained Earnings Appropriated for Treasury Shares Appropriated for Plant Expansion Treasury Shares 2,000 shares at cost (Ordinary Shares) Appraisal Capital Php 800,000 2,500,000 50,000 15,000 700,000 450,000 150,000 150,000 210,000 Required: Prepare the shareholders' equity section of the corporation using two methods of presenting treasury shares. Win

The following accounts are found in the shareholders' equity of Dahlia Corporation: Preference Shares, 8%, par value Php100, authorized 10,000 shares 8,000 shares issued and outstanding Ordinary Shares, par value Php125, authorized and issued 20,000 shares Additional Paid-in Capital: Premium on Ordinary Shares Paid-in Capital from Sale of Treasury Shares Retained Earnings Appropriated for Treasury Shares Appropriated for Plant Expansion Treasury Shares 2,000 shares at cost (Ordinary Shares) Appraisal Capital Php 800,000 2,500,000 50,000 15,000 700,000 450,000 150,000 150,000 210,000 Required: Prepare the shareholders' equity section of the corporation using two methods of presenting treasury shares. Win

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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3. The following accounts are found in the shareholders' equity of Dahlia Corporation: Preference Shares, 8%, par value Php100, authorized 10,000 shares 8,000 shares issued and outstanding Php 800,000 Ordinary Shares, par value Php125, authorized and issued 20,000 shares Additional Paid-in Capital: Premium on Ordinary Shares Paid-in Capital from Sale of Treasury Shares Retained Earnings 2,500,000 50,000 15,000 700,000 Appropriated for Treasury Shares Appropriated for Plant Expansion Treasury Shares 2,000 shares at cost (Ordinary Shares) Appraisal Capital 450,000 150,000 150,000 210,000 Required: Prepare the shareholders' equity section of the corporation using two methods of presenting treasury shares. Activate Windov
Transcribed Image Text:3. The following accounts are found in the shareholders' equity of Dahlia Corporation: Preference Shares, 8%, par value Php100, authorized 10,000 shares 8,000 shares issued and outstanding Php 800,000 Ordinary Shares, par value Php125, authorized and issued 20,000 shares Additional Paid-in Capital: Premium on Ordinary Shares Paid-in Capital from Sale of Treasury Shares Retained Earnings 2,500,000 50,000 15,000 700,000 Appropriated for Treasury Shares Appropriated for Plant Expansion Treasury Shares 2,000 shares at cost (Ordinary Shares) Appraisal Capital 450,000 150,000 150,000 210,000 Required: Prepare the shareholders' equity section of the corporation using two methods of presenting treasury shares. Activate Windov
2. The shareholders' equity section of Banana Co. revealed the following: Ordinary Shares, Php50 par value, 10,000 shares Premium on Ordinary Shares Retained Earnings Php500,000 20,000 100,000 Required: Record the acquisition and reissuance of treasury shares based on the following: (a) The corporation acquired 2,000 of its own shares at Php50. Reissued 1,000 of these shares. (b) The corporation acquired 2,000 of its own shares at Php55. Reissued 1,000 of these shares at Php60.olders' equity of (c) The corporation acquired 2,000 of its own shares at Php48. Reissued 1,000 of these shares at Php50 and 1,000 at Php55.
Transcribed Image Text:2. The shareholders' equity section of Banana Co. revealed the following: Ordinary Shares, Php50 par value, 10,000 shares Premium on Ordinary Shares Retained Earnings Php500,000 20,000 100,000 Required: Record the acquisition and reissuance of treasury shares based on the following: (a) The corporation acquired 2,000 of its own shares at Php50. Reissued 1,000 of these shares. (b) The corporation acquired 2,000 of its own shares at Php55. Reissued 1,000 of these shares at Php60.olders' equity of (c) The corporation acquired 2,000 of its own shares at Php48. Reissued 1,000 of these shares at Php50 and 1,000 at Php55.
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