Ordinary share, P1 par P4,800,000 Share premium in Excess of Par— Ordinary share 550,000 Preferred 8 1/2% share, P50 par 2,000,000 Share premium in Excess of Par—Preferred share 400,000 Retained Earnings 1,500,000 Treasury ordinary share (at cost) 150,000 The total shareholders' equity of Uub Corporation is a. P9,100,000

Ordinary share, P1 par P4,800,000 Share premium in Excess of Par— Ordinary share 550,000 Preferred 8 1/2% share, P50 par 2,000,000 Share premium in Excess of Par—Preferred share 400,000 Retained Earnings 1,500,000 Treasury ordinary share (at cost) 150,000 The total shareholders' equity of Uub Corporation is a. P9,100,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 11MC: A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional...

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Treasury Stock, No Par Propst-Steele Production Corporations accounting records provide the following information: 1. Issued 5,000 shares of no-par common stock at 15 per share. 2. Issued an additional 5,000 shares of 110-par common stock at 17 per share. 3. Reacquired 500 shares of its no-par common stock at a cost of 12.50 per share. 4. Reissued 200 of its treasury shares at 14 per share. 5. Reissued the remaining treasury shares at 11 per share. Required: Prepare journal entries to account for the preceding stock transactions of Propst-Steele Production, assuming it uses the cost method for treasury stock.
A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional paid-in capital would be ________. A. $11,985 B. $12,000 C. $15 D. $10,150
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