The following capital accounts are shown in the statement of financial position Corporation: Ordinary shares, 10,000 shares, par value P100 Premium on ordinary shares Share premium- treasury shares Accumulated profits and losses Treasury shares, 2,000 shares at cost P1,000,000 20,000 30,000 750,000 250,000 The entire 2,000 treasury shares were sold for P200,000. What would be the balar accumulated profits and losses account after this sale?

The following capital accounts are shown in the statement of financial position Corporation: Ordinary shares, 10,000 shares, par value P100 Premium on ordinary shares Share premium- treasury shares Accumulated profits and losses Treasury shares, 2,000 shares at cost P1,000,000 20,000 30,000 750,000 250,000 The entire 2,000 treasury shares were sold for P200,000. What would be the balar accumulated profits and losses account after this sale?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

May you tell me where I can get reliable IFRS relevant to accounting changes?
Discuss critically how Tesla provide Social and Environmental Accounting?
1. How much of the needed information can be provided by accountants?
Discuss Practical Implementations of any one generally accepted accounting Principle (GAAP), discussion may be elaborated with example.
Explain how accounting became a "norm" (what made a system of accounting necessary) and reflect on why YOU think it is beneficial for society as a whole to have a standard method of accounting.
Make logical comparison between financial accounting with other fields of accounting ?
mention the users of financial information and their respective needs.ment accounting and cost accounting.
Please answer it if is TRUE or FALSE.
We discussed what seemed to most as a new term, bright-line accounting. Please researchand describe in your own opinion what bright-line accounting means to you.
Which among the following are the reasons why regulation of the accounting profession is essential? i. Regulations address the knowledge imbalance between the provider and purchaser of professional service. ii. Regulations ensure that accounting services are of the right quality. iii. Regulations ensure that the cost benefits to these third parties are taken into account. a. i and ii b. i, ii, and iii c. i and iii d. ii and iii
Hi what is the importance of accounting?
What is meant by the term fresh start accounting ?