Berna Company reported the following equity accounts at the beginning of current year: Share Capital, P20 par
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Question:
Berna Company reported the following equity accounts at the beginning of current year:
Share Capital, P20 par 8,000,000
Share Premium 2,550,000
Retained Earnings 1,275,000
All shares outstanding at the beginning of the current year were issued for P26 a share. At year-end, the entity reacquired 20,000 shares at P24 a share and retired them.
What is the balance of the share premium?
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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