User Account

All Pages

How would the resale of the treasury shares be recorded

Assignment Help Financial Accounting
Reference no: EM132942367

The following accounts are shown on the statement of financial position of Phoenix Corporation

Share Capital, P 100 par, 1,000 shares P 100,000
Share Premium 2,000
Paid in Capital from Treasury Shares 2,000
Retained Earnings 75,000
Treasury shares, 200 shares at cost 25,000

Problem 1: All the 200 treasury shares were sold for P 22,000. How would the resale of the treasury shares be recorded?

Reference no: EM132942367

Questions Cloud

How do customer relationship management systems : How do customer relationship management systems help organizations achieve customer intimacy?
Find effect on the total additional paid in capital would be : The original issue of Ordinary Share of P 30 par was replaced by P 30 stated value. As a result, the effect on the total Additional Paid In Capital would be
Strategies for competing in fragmented industries : Discuss the reasons for supply-side fragmentation and strategies for competing in fragmented industries. Use two appropriate examples in your discussion.
Definition of an effective and efficient manager : 1. What is your definition of an effective and efficient manager?
How would the resale of the treasury shares be recorded : Phoenix Corporation, All the 200 treasury shares were sold for P 22,000. How would the resale of the treasury shares be recorded?
What will be the cost per share of the treasury shares : After the split, what will be the cost per share of the treasury shares? July 9 10,000 shares of previously unissued ordinary share were sold for P57 per share.
Development of a research idea : You must construct a research area, in a single sentence, with a set of selected field and subfields. The research area should be specific enough to define a cl
What would be the expected market price of the bond : What would be the expected market price of this bond. Assume a corporation's bond has 19 years remaining until maturity. The coupon interest rate is 9.8%
Calculate the present value of loan : From the Cardinals' perspective, calculate the present value of this loan. On January 1, 2020, Cardinals Corp. grants a loan to Pirates Company

Reviews

Write a Review

Financial Accounting Questions & Answers

  What was ICUP Cash Flow for the year

If (under GAAP) ICUP changed its depreciation method so that the Depreciation Expense tripled to $300,000, what would be the new Cash Flow?

  Discuss how and when the concept could be used by eec

Discuss how and when the concept could be used by EEC. Discuss the advantages and disadvantages of the concept as it relates to EEC.

  What the interest expense incurred on june

The effective rate of interest was 6%. Under the effective-interest method, What the interest expense incurred on June 30, 2020 would be closest to

  How can the leases be arranged to treat as operating

How can the leases be arranged to treat? Which of the two methods of treatment (operating or capital) would rise to a higher net income in the ?rst year?

  What amount of gain or loss on transfer company recognize

As of December 31, 2019, it has a carrying value of Php 4,900,000. What amount of gain or loss on transfer should the company recognize on December 31, 2020

  Is change good idea if required return two percent

What if only half of the customers take the offered credit? Justify. The current policy is cash only, and sales per period are 2,000 units at a price

  Using straight-line depreciation

Bricker Enterprises purchased a machine for $204,000 on October 1, 2018. The estimated service life is ten years with a $19,500 residual value. Bricker records partial-year depreciation based on the number of months in service. Depreciation expense f..

  Prepare the journal entry to record the call of the bonds

Prepare the journal entry to record the call of the bonds

  Journalize the entry to record the warranty work provided

Journalize the adjusting entry required at January 31, the end of the first month of the current fiscal year, to record the accrued product warranty.

  New automated inventory retrieval system to reduce costs

A company is considering the purchase of a new automated inventory retrieval system to reduce costs. The new inventory retrieval system will cost $560,000. How much must be saved each year to recover this investment is seven years at an interest rate..

  What is the effective annual interest rate of loan

You just bought a fancy TV on credit for $5,000 and the terms of the loan are: 3-year loan for with monthly (end of the month) payments of $229.02

  Case - Analysis of a Statement of Cash Flows

Case - Analysis of a Statement of Cash Flows - Did the company use the direct method or the indirect method of disclosing cash flows

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd