CFAS Corp has 100,000 shares, P15 par, issued and outstanding at the beginning of the year Subsequently, the company reacquired 10,000 shares for a total cost of P165,000 from its shareholders At year end, the company reissued 5,000 shares for P20 per share The entry to reissue the 5,000 treasury s...

CFAS Corp has 1000 share 15 Pr Outstanding beging Reguire 1000 ...

CFAS Corp. has 100,000 shares, P15 par, issued and outstanding at the beginning of the year. Subsequently,

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CFAS Corp. has 100,000 shares, P15 par, issued and outstanding at the beginning of the year. Subsequently, the company reacquired 10,000 shares for a total cost of P165,000 from its shareholders. At year-end, the company reissued 5,000 shares for P20 per share.

The entry to reissue the 5,000 treasury shares at year-end will include:

O A credit to retained earnings of P17,500.

O A debit to share premium of P17,500

O A credit to share capital of P75,000.

O A credit to share premium of P17.500