Helu 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. 4 - Issued 200,000 shares @ P5 per share. April 8 - Issued 100,000 shares @ P7 per share. June 9 - Issued 30,000 shares @ P10 per share July 29 - Purchased 50,000 shares @ P4 per share. Dec. 31 - Sold 50,000 shares held in treasury @ P8 per share.   What should be the total Share Premium as of December 31? a. P550,000 b. P500,000 c. P450,000 d. P400,000

Intermediate Accounting: Reporting And Analysis
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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
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Helu 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. 4

- Issued 200,000 shares @ P5 per share.

April 8

- Issued 100,000 shares @ P7 per share.

June 9

- Issued 30,000 shares @ P10 per share

July 29

- Purchased 50,000 shares @ P4 per share.

Dec. 31

- Sold 50,000 shares held in treasury @ P8 per share.

 

What should be the total Share Premium as of December 31?

a. P550,000
b. P500,000
c. P450,000
d. P400,000
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