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How much is to be debited to share capital

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Reference no: EM132840549

SUUNIC Corp. reacquires the 10,000 of its own shares for P40. The shares have par value of P20 and were originally issued at P25 per share. Subsequently, SUUNIC reissues half of the reacquired shares at P58 per share and then retires the other half. As a result of the transaction.

Problem 1: As a result of TS retirement, How much is to be debited to Share Capital?

Problem 2: As a result of TS retirement, How much is to be debited to Share Premium?

Reference no: EM132840549

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