CFAS Corporation was organized on January 1, with an authorization of 1,000,000 ordinary shares with a par value of P5 per share. During the year, the corporation had the following equity transactions: Jan. 3 Issued 300,000 shares @ P5 per share. March 28 Issued 200,000 shares @ P6.50 per share. May 13 Issued 35,000 shares @ P11.20 per share August 1 Reacquired 50,000 shares @ P3.50 per share. Nov. 20 Sold 30,000 shares held in treasury @ P7 per share. Dec. 31 Sold 10.000 shares held in treasury at P2.00 per share. What should be the total Share Premium as of December 31?

CFAS Corporation was organized on January 1, with an authorization of 1,000,000 ordinary shares with a par value of P5 per share. During the year, the corporation had the following equity transactions: Jan. 3 Issued 300,000 shares @ P5 per share. March 28 Issued 200,000 shares @ P6.50 per share. May 13 Issued 35,000 shares @ P11.20 per share August 1 Reacquired 50,000 shares @ P3.50 per share. Nov. 20 Sold 30,000 shares held in treasury @ P7 per share. Dec. 31 Sold 10.000 shares held in treasury at P2.00 per share. What should be the total Share Premium as of December 31?

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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