Treasury Shares

The following data pertain to CHACHA Corporation:

*Ordinary Share Capital, with a par value of P100

*10,000 shares issued and outstanding P1,000,000.00

*Retained Earnings . P 1,200,000.00

The following transactions took place:

*June 10- Reacquired 500 common shares for treasury at P80 per share

*June 12- 50 Treasury shares were sold at P85 per share

*June 15- 20 shares were sold at P 75 per share

*June 20 - 10 shares were sold at P 70 per share

*June 25- 125 Treasury shares were retired

Required:

*Journalize and post the transactions

 

Transcribed Image Text:

Problem 2: Treasury Shares The following data pertain to CHACHA Corporation: Ordinary Share Capital, with a par value of P100 10,000 shares issued and outstanding P 1,000,000.00 Retained Earnings P 1,200,000.00 The following transactions took place: June 10- Reacquired 500 common shares for treasury at P80 per share June 12- 50 Treasury shares were sold at P85 per share June 15- 20 shares were sold at P 75 per share June 20 10 shares were sold at P 70 per share June 25- 125 Treasury shares were retired Required: Journalize and post the transactions Problem 2: Treasury Shares The following data pertain to CHACHA Corporation: Ordinary Share Capital, with a par value of P100 10,000 shares issued and outstanding P 1,000,000.00 Retained Earnings P 1,200,000.00 The following transactions took place: June 10- Reacquired 500 common shares for treasury at P80 per share June 12- 50 Treasury shares were sold at P85 per share June 15- 20 shares were sold at P 75 per share June 20 10 shares were sold at P 70 per share June 25- 125 Treasury shares were retired Required: Journalize and post the transactions

Answer rating: 100% (QA)

JOURNAL Date Particulars Debit amt Credit amt June 10 Treasury ... View the full answer