CFAS Company showed the following information from its shareholders' equity at year-end before theeffect of the transaction below:Ordinary share capitalShare premiumRetained earningsTreasury shares (at cost)P6,250,0003,125,0003,724,0001,530.000The ordinary shares were originally issued for P187.50 per share. At the end of the year, CFAS Companyretired 5,100 shares held in treasury. The treasury shares had a P125 par value per share and an averagecost per share of P300. (Input your answers as figures, do NOT put any comma, peso sign or extra spaces. E.g. ifyour answer is one thousand, please input 1000):1. How much is the adjusted ordinary share capital at year end?2. How much is the adjusted share premium at year end?3. How much is the adjusted balance of retained earnings at year end?

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Accounting Entry to be made for retirement of treas... View the full answer