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The following are data pertaining to ABC Corporation: Ordinary share Capital, with par value of P50, 18,500 issued shares 925,000 Additional Paid in Capital 125,000
The following are data pertaining to ABC Corporation: Ordinary share Capital, with par value of P50, 18,500 issued shares 925,000 Additional Paid in Capital 125,000 Retained Earnings 4,500,000 Shareholder's Equity 5,550,000 The following transactions took place: Aug 10- Reacquired 6,000 ordinary shares for treasury at P60 per share Aug 12-2,500 treasury shares were sold at P62 per share Aug 20- Another 1,000 treasury shares were sold at P55 per share Aug 31- 1,000 treasury shares were retired Required: Journalize each transaction (4 points) and compute for the new balance of Shareholder's Equity.(1 point)
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