Question
ABC Corp. has 7,500 ordinary shares in its treasury with par value of $100 and cost of $120. The shares were originally issued for $110
ABC Corp. has 7,500 ordinary shares in its treasury with par value of $100 and cost of $120. The shares were originally issued for $110 per share. The account "Share premium- Treasury" had a balance of $30,000. At the end of 2018, ABC Corp. decided to retire its treasury shares . What will be the transaction for retirement?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Management Accounting
Authors: Will Seal, Carsten Rohde, Ray Garrison, Eric Noreen
6th Edition
0077185536, 978-0077185534
