INDUSTRY Company had 40,000 shares of ₱10 par value treasury shares. These shares were reacquired at a cost of ₱800,000. During the current year, the company reissued 30,000 shares at ₱25 per share. At December 31, what amount should INDUSTRY Company recognize as a restriction to retained earnings? *
INDUSTRY Company had 40,000 shares of ₱10 par value treasury shares. These shares were reacquired at a cost of ₱800,000. During the current year, the company reissued 30,000 shares at ₱25 per share. At December 31, what amount should INDUSTRY Company recognize as a restriction to retained earnings? *
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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INDUSTRY Company had 40,000 shares of ₱10 par value treasury shares. These shares were reacquired at a cost of ₱800,000. During the current year, the company reissued 30,000 shares at ₱25 per share. At December 31, what amount should INDUSTRY Company recognize as a restriction to retained earnings ? *
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