Question: Can I ask for the solution for this problem? This is from my Intermediate Accounting. Problem #1 Jisoo Company reported the following shareholders' equity at

Can I ask for the solution for this problem? This is from my Intermediate Accounting.

Problem #1

Jisoo Company reported the following shareholders' equity at the beginning of the current year:

Share capital, P10 par, outstanding 225,000 shares - 2,250,000

Share premium - 1,500,000

Retained earnings - 2,000,000

During the year, the entity had the following transactions:

  • Acquired 10,000 treasury shares for P500,000
  • Sold 5,000 treasury shares at P60 per share
  • Sold 2,000 treasury shares at P45 per share
  • Net income for the year was P2,500,000

Requirements:

  1. SHARE CAPITAL
  2. SHARE PREMIUM
  3. RETAINED EARNINGS
  4. TREASURY SHARES
  5. LEGAL CAPITAL
  6. CONTRIBUTED CAPITAL
  7. SHAREHOLDER'S EQUITY
  8. TOTAL SHARES ISSUED
  9. TOTAL SHARES OUTSTANDING

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