Agler Corporation purchased 3,000 of its 5 par value ordinary shares for a cash price of 12

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Question:

Agler Corporation purchased 3,000 of its €5 par value ordinary shares for a cash price of €12 per share. Two months later, Agler sold the treasury shares for a cash price of €10 per share.

Instructions:

Prepare the journal entry to record the sale of the treasury shares assuming

(a) No balance in Share Premium-Treasury.

(b) A €4,000 balance in Share Premium-Treasury.

Related Book For answer-question

Financial Accounting

ISBN: 978-1118978085

IFRS 3rd edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Posted Date: Sep 12, 2020 04:28 AM

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Agler Corporation purchased 3,000 of its 5 par value ordinary shares for a cash price of 12

Question:

Expert Answer:

From the details given it is required to prepare Journals for share premium treasury sales transactions based on two conditions given below a No balan... View the full answer

Financial Accounting

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