Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company repurchased 1 0 , 0 0 0 of its outstanding ordinary shares with par value 2 $ for 6 $ in 5 0

image text in transcribed
A company repurchased 10,000 of its outstanding ordinary shares with par value 2$ for 6$ in 501?2024, at 3101?2024 the company re-issued 5000 : for 7.5, and in 28/02/2024 issued 4000 for 2.5 which recorded in the company books for
debit retained earning for $6500.A
debit treasury shares for 10,000.B
credit treasury premium for 7500.C
debit premium treasury for 6500.D
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting The Cornerstone of Business Decision Making

Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

7th edition

978-1337116008, 1337116009, 1337115770, 978-1337516150, 1337516155, 978-1337115773

More Books

Students also viewed these Accounting questions

Question

23. Prove that if AA t = I then AA t = I for all L-inverses of A.

Answered: 1 week ago

Question

Will other people benefit if I act according to this value?

Answered: 1 week ago