Prepare shareholder equity of handi corner corporation

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The data below are from the December 31, 2022 balance sheet of the Handi Corner Corporation: Common stock, P50 par, 3,000 shares issued and outstanding 150,000

Paid-in Capital in excess of par 45,000

Appropriated Retained Earnings 75,000

During 2023, the following transactions affecting corporate capital were recorded:

Aug 16 Purchased 400 shares of treasury stock at P78 per share

Oct 23 Purchased 225 shares of stock at P71 per share and immediately retired the stock

Nov 3 Sold 150 shares of the treasury stock purchased on Aug. 16 at P81 per share

Required:

Prepare the journal entries and prepare the Shareholder's Equity of Handi Corner Corporation.

Reference no: EM133266832

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