The shareholders equity of ANITA Corporation appears as follows:

         Ordinary Shares, 50,000 shares  ₱100 par                                             ₱5,000,000

         Share Premium                                                                                                   200,000

         Retained Earnings                                                                                          2,000,000

         Treasury Shares, 5,000 were acquired at  ₱160/share

  If the treasury shares were reissued for  ₱600,000, what will be the correct journal entry?

Answer rating: 100% (QA)

The correct journal entry to record the reissuance of treasury shares for 600000 would be as follows ... View the full answer