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Compute the total number of shares entitled to dividends

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Reference no: EM132558070

The following data pertain to WXY Corp.

Ordinary Share Capital, with a par value of P100 20,000 shares issued and outstanding......................P2,000,000

Ordinary Share Premium........................................... 50,000

Paid in Capital from Treasury shares........................... 1,500

Share Premium from stock retirement......................... 1,000

Retained Earnings................................................... 1,400,000

The following transactions took place:

June 10 - Reacquired 2,000 share at P110 per share

15 - Retired 500 from the treasury shares

20 - 500 treasury shares were sold for P90 per share

25 - 500 treasury shares were at P37,500

30 - The remaining treasury shares were restricted under the title "Appropriation Reserved for Treasury Shares"

Question 1. Prepare Journal Entries

Question 2. Compute the total number of shares entitled to dividends

Reference no: EM132558070

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