William Company was organized on January 1, 2021, with 100,000 shares of authorized P100 par value ordinary shares.  On the same date William issued 80,000 shares at P150 per share and on December 31, 2022, William purchased 10,000 shares at P130 per share to be held as treasury.  William uses the par value method of recording treasury shares.  What would be the balance in the share premium from treasury shares account on December 31, 2022?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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William Company was organized on January 1, 2021, with 100,000 shares of authorized P100 par value ordinary shares.  On the same date William issued 80,000 shares at P150 per share and on December 31, 2022, William purchased 10,000 shares at P130 per share to be held as treasury.  William uses the par value method of recording treasury shares.  What would be the balance in the share premium from treasury shares account on December 31, 2022?

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