99. Vicar Company was organized on January 1,2013 with 100,000 authorized shares of PI 00 par value. On January 5, the entity issued 75,000 shares at P140 per share and on December 31, the entity purchased 5,000 shares at P110 per share. The entity used the par value method to record the purchase of the treasury shares. What is the balance of the share premium from treasury shares on December 31,2013? * A. 0 O B. 50,000 O C. 150,000 O D 200,000
99. Vicar Company was organized on January 1,2013 with 100,000 authorized shares of PI 00 par value. On January 5, the entity issued 75,000 shares at P140 per share and on December 31, the entity purchased 5,000 shares at P110 per share. The entity used the par value method to record the purchase of the treasury shares. What is the balance of the share premium from treasury shares on December 31,2013? * A. 0 O B. 50,000 O C. 150,000 O D 200,000
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
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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