Compute the new balance of shareholder equity

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Question - ABC Corporation's shareholder's equity section as of January 1, 2015 showed:

100,000 Ordinary share capital, of which 90,000 shares were issued, par value is P10 900,000

Retained Earnings 150,000

Required: Journalize the following transactions and compute the new balance of Shareholder's Equity

a. 5,000 shares were reacquired and retired immediately at P12 on July 1, 2015

b. 4.000 shares were reacquired and retires immediately at P8 on December 31, 2015

Reference no: EM133077488

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