Callous Company was organized on January 1 , 2012 with 100,000 shares authorized with P100 par value. On the same date, the entity issued 75,000 shares at P140 per share and on December 31, 2012, it purchased 5,000 shares at P110 per share to be held as treasury. The entity used the par value method of recording treasury shares. What is the balance in the share premium account arising from treasury share transaction on December 31, 2012? a. 200,000 b. 150,000 c. 50,000 d. 0
Callous Company was organized on January 1 , 2012 with 100,000 shares authorized with P100 par value. On the same date, the entity issued 75,000 shares at P140 per share and on December 31, 2012, it purchased 5,000 shares at P110 per share to be held as treasury. The entity used the par value method of recording treasury shares. What is the balance in the share premium account arising from treasury share transaction on December 31, 2012? a. 200,000 b. 150,000 c. 50,000 d. 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
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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Callous Company was organized on January 1 , 2012 with 100,000 shares authorized with P100 par value. On the same date, the entity issued 75,000 shares at P140 per share and on December 31, 2012, it purchased 5,000 shares at P110 per share to be held as treasury. The entity used the par value method of recording treasury shares. What is the balance in the share premium account arising from treasury share transaction on December 31, 2012?
a. 200,000
b. 150,000
c. 50,000
d. 0
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