Gains on sale of treasury shares (cost method) should be credited to •Share premium – treasury •Ordinary share •Gain on sale of treasury •Retained earnings 2. When share without par value and stated value are sold, the proceed should be credited to a. Profit or Loss b. Retained Earnings c. Share Capital d. Share premiu
Gains on sale of treasury shares (cost method) should be credited to •Share premium – treasury •Ordinary share •Gain on sale of treasury •Retained earnings 2. When share without par value and stated value are sold, the proceed should be credited to a. Profit or Loss b. Retained Earnings c. Share Capital d. Share premiu
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. Gains on sale of treasury shares (cost method) should be credited to
•Share premium – treasury
•Ordinary share
•Gain on sale of treasury
•Retained earnings
2. When share without par value and stated value are sold, the proceed should be credited to
a. Profit or Loss
b. Retained Earnings
c. Share Capital
d. Share premium
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