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Compute the outstanding shares after the above transactions

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Reference no: EM132912566

The shareholders' equity section of Aquarius Inc. reported the following

Ordinary Shares, 50,000 shares outstanding, P100 par P5,000,000.00

Share premium 500,000

Accumulated profits 1,500,000.00

The following subsequent transactions occurred:

a. Aquarius Inc. purchased from the market its own 10,000 shares per share.

b. After transaction (a), 5,000 shares of its treasury shares were P125 per share.

Requirements:

Problem 1. Journal entries of the subsequent transactions

Problem 2. Compute the total equity section after the above transactions assuming that there are no other transactions affecting the shareholders equity.

Problem 3. Compute the outstanding shares after the above transactions.

 

Reference no: EM132912566

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