Solution-Acquisition of treasury shares

Acquisition of treasury shares

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The Statement of Shareholders' equity of Bubble Gone Corporation (BGC) presented the following data on 2021. Ordinary shares, P10 par, 400,000 shares authorized, 90% were issued for P12.50 per share. Of the issued Ordinary Shares 15% were in the treasury at repurchased price of P15. At the end of the quarter of 2021, 20,000 Treasury shares were sold for P18 per share and on the second quarter 15,000 shares were sold for P12. The Retained was Earnings P2,500,000. How much was the share capital before the acquisition of 15% Treasury Shares?

Reference no: EM133266961

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Acquisition of treasury shares

Reference no: EM133266961

Reference no: EM133266961

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