Question
XYZ Company acquired 6,000 shares with P10 par value at P36 per share. During 2013, the entity issued 3,000 of these shares at P50 per
XYZ Company acquired 6,000 shares with P10 par value at P36 per share. During 2013, the entity issued 3,000 of these shares at P50 per share. The cost method is used in accounting for treasury shares. What accounts and amounts should be credited to record the issuance of the 3,000 shares?
Give the journal entry/entries.
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MIS Management Information Systems
Authors: Hossein Bidgoli
8th edition
978-1337406932, 1337406937, 978-1337406925, 1337406929, 978-0357004357
