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Determine the total number of issued shares

Assignment Help Accounting Basics
Reference no: EM133162912

Question 1 - True or False

1. Treasury shares may be re-issued, retired or given as a property dividends

2. The initial owners of stock of a newly formed corporation are called directors

3. A "small" share dividends occurred if the dividends rate is 20% or less.

4. The "share capital" and "subscribed share capital" accounts can be used interchangeably when accounting for a corporation's share transaction.

5. In accounting for the retirement of treasury shares, retained earnings may increase

6. Additional paid-in capital; includes Retained Earnings

Question 2 - Given the following: determine the total number of issued shares

share capital, 10,000 authorized shares, P100 par value 800,000

subscribed share capital 135,000

share premium 350,000

retained earnings 1,120,000

treasury shares (cost P130 per share) 650,000

Reference no: EM133162912

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