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What is the total cost of the treasury shares

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Reference no: EM132905654

Problem 1: The corporation reacquired 2,000 of its own shares at P30 per share. The shares with a par value of P5 per share were previously issued at P15 per share. What is the total cost of the treasury shares?

a. "P100,000"
b. "P60,000"
c. "P30,000"
d. "P10,000"

Problem 2: XYZ Ccrporation reissued 1,000 treasury shares with a a total cost of P60,000 for P80,000. The P20,000 difference will be recorded as

a. Gain on sale treasury shares
b. Share premium - treasury shares
c. Share capital
d. Paid in capital from treasury shares

Reference no: EM132905654

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