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.

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.

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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