Problem 21-2 (ACP) At the beginning of current year, Alegro Company reported the following issuance of equity shares: 200,000 shares at P20 250,000 shares at P25 During the current year, the entity reacquired 50,000 shares at P20, and these shares were reissued at year-end at P25 per share. 4,000,000 6,250,000 Required: Prepare journal entries to record the foregoing transactions assuming: a. The share has a P15 par value. b. The share is no par with stated value of P20. 745
Problem 21-2 (ACP) At the beginning of current year, Alegro Company reported the following issuance of equity shares: 200,000 shares at P20 250,000 shares at P25 During the current year, the entity reacquired 50,000 shares at P20, and these shares were reissued at year-end at P25 per share. 4,000,000 6,250,000 Required: Prepare journal entries to record the foregoing transactions assuming: a. The share has a P15 par value. b. The share is no par with stated value of P20. 745
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
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 4RE: Sun Corporation issues 500 shares of 8 par common stock for a patent. The stock is currently selling...
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