100. In 2012, Rona Company issued 50,000 shares of P10 par value for P100 per share. In 2013, the entity reacquired 2,000 shares at P150 per share and immediately canceled these 2,000 shares. In connection with the retirement of shares, what amount should be debited to share premium and retained earnings, respectively? * O A. 20,000 and 280,000 O B. 100,000 and 180,000 O C. 180,000 and 100,000 O D. 280,000 and 0

100. In 2012, Rona Company issued 50,000 shares of P10 par value for P100 per share. In 2013, the entity reacquired 2,000 shares at P150 per share and immediately canceled these 2,000 shares. In connection with the retirement of shares, what amount should be debited to share premium and retained earnings, respectively? * O A. 20,000 and 280,000 O B. 100,000 and 180,000 O C. 180,000 and 100,000 O D. 280,000 and 0

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 5MC

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