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What is the remaining cost of treasury stock on December

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Reference no: EM132908538

Problem - The following balances are shown in the stockholders' equity section of Ang Corporation on December 31, 2019:

10% Preference share, 100,000 shares, P10 par value P1,000,000

Ordinary shares, 500,000 shares, P10 par value 5,000,000

Share premium - preferred 50,000

Share premium - ordinary 200,000

Retained earnings 100,000

During 2020, the following transactions pertaining to the stockholders' equity 1were completed:

a. Retirement of preference share, 5,000 shares redeemed at P11.

b. Purchase of treasury stock, ordinary shares at P12 per share.

c. Reissued of treasury stock, ordinary 2,000 shares at P8 per share.

d. Net income for 2020.

Required -

1. What is the remaining cost of treasury stock on December 31, 2020?

2. What is the total share premium [preferred and ordinary] on December 31, 2020?

3. What is the balance of share premium - preferred on December 31, 2020?

4. What is the balance of retained earnings on December 31, 2020?

5. What is the total stockholders' equity on December 31, 2020?

Reference no: EM132908538

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