1, 20x1 is as 3. LABILE ADAPTABLE Co.'s equity as Share capital (authorized 20,000 shares, P100 par value) Share premium Retained earnings Total shareholders' equity follows: 1,600,000 320,000 1,080.000 3,000.000 LABILE Co. reacquires 1,000 shares at P90 on July 1, 20x1. Requirements: Provide the entries to record the reacquisition and the reissuance under the following independent scenarios: all the treasury shares were reissued on Sept. 1, 20x1 at P140. b. all the treasury shares were reissued on Sept. 1, 20x1 at P60. a.

1, 20x1 is as 3. LABILE ADAPTABLE Co.'s equity as Share capital (authorized 20,000 shares, P100 par value) Share premium Retained earnings Total shareholders' equity follows: 1,600,000 320,000 1,080.000 3,000.000 LABILE Co. reacquires 1,000 shares at P90 on July 1, 20x1. Requirements: Provide the entries to record the reacquisition and the reissuance under the following independent scenarios: all the treasury shares were reissued on Sept. 1, 20x1 at P140. b. all the treasury shares were reissued on Sept. 1, 20x1 at P60. a.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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