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What amount should be credited to retained earnings

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In 2024, BNT Company i ssued 50,000 shares of P10 par value for P100 per share. In 2025, the entity reacquired 2,000 shares at P150 per share and immediately canceled these 2,000 shares.

Problem 1.) In connection with the retirement of shares, what amount should be debited to share capital?

Problem 2.) In connection with the retirement of shares, what amount should be debited to share premium?

Problem 3.) In connection with the retirement of shares, what amount should be credited to retained earnings?

Reference no: EM132816661

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