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Problem 2 (Treasury Shares) Charity Corporation has the following equity account balances: Ordinary Share Capital, P 25 par value Additional paid-in capital in excess of
Problem 2 (Treasury Shares) Charity Corporation has the following equity account balances: Ordinary Share Capital, P 25 par value Additional paid-in capital in excess of par Retained Earnings P 500,000 140,000 200,000 On September 2, the corporation reacquired its 5,000 ordinary shares at P 22. On October 27, there are 3,000 reissued treasury shares at P 25 per share. The remaining treasury shares were reissued at P 18 per share. Requirements: Prepare the journal entries for the transactions occurred
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