Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Sosa Co's equity at January 1, 2012 is as follows: Share capital-ordinary, P10 par value: authorized 300,000 shares; P2.250.000 Outstanding 225,000 shares 900.000 Share premium-ordinary
Sosa Co's equity at January 1, 2012 is as follows: Share capital-ordinary, P10 par value: authorized 300,000 shares; P2.250.000 Outstanding 225,000 shares 900.000 Share premium-ordinary 2.190.000 Retained earnings P5340.000 Total During 2012. Sosa had the following share transactions: Acquired 6,000 shares of its shares for P270.000 Sold 3.600 treasury shares at P50 a share. Sold the remaining treasury shares at 41 per share No other share transactions occurred during 2012. Assuming Sosa uses the cost method to record treasury Share transactions How much is the Total Shareholders Equity at the end of the year? Answer pattem: 1.000.000
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