A corporation is being organized with an authorize share capital of P40,000. How much of this P40,000 should be subscribed and how much must be actually paid? a. P 10,000; P 2,500 b. P 15,000; P 5,000 c. P 10,000 ; P 5,000 d. P 15,000; P 2,500 If a corporation reissued at P200 per share 100 shares of treasury stock that it had previously acquired for P280 per share and there wasn’t any Share Premium – Treasury, it would debit a. Loss on sale of treasury stock for P 8,000 b. Share Premium – Ordinary for P 8,000 c. Retained earnings for P 8,000 d. Treasury stock for P 8,000
A corporation is being organized with an authorize share capital of P40,000. How much of this P40,000 should be subscribed and how much must be actually paid? a. P 10,000; P 2,500 b. P 15,000; P 5,000 c. P 10,000 ; P 5,000 d. P 15,000; P 2,500 If a corporation reissued at P200 per share 100 shares of treasury stock that it had previously acquired for P280 per share and there wasn’t any Share Premium – Treasury, it would debit a. Loss on sale of treasury stock for P 8,000 b. Share Premium – Ordinary for P 8,000 c. Retained earnings for P 8,000 d. Treasury stock for P 8,000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 6MCQ: Ames Corporation repurchases 10,000 shares of its common stock for $12 per share. The shares were...
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A corporation is being organized with an authorize share capital of P40,000. How much of this P40,000 should be subscribed and how much must be actually paid?
a. P 10,000; P 2,500
b. P 15,000; P 5,000
c. P 10,000 ; P 5,000
d. P 15,000; P 2,500
If a corporation reissued at P200 per share 100 shares of treasury stock that it had previously acquired for P280 per share and there wasn’t any Share Premium – Treasury, it would debit
a. Loss on sale of treasury stock for P 8,000
b. Share Premium – Ordinary for P 8,000
c. Retained earnings for P 8,000
d. Treasury stock for P 8,000
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