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Question

The following data pertain to GHI Corp. Ordinary Share Capital, with a par value of P50

   20,000 shares issued of which 2,000 are in treasury.... P1,000,000

Ordinary Share Premium...........................................      125,000

Treasury shares at cost........................................            160,000      

Retained Earnings...................................................   1,500,000


The following transactions took place:

June          15 - 500 treasury shares were sold for P50,000


         20 - 600 treasury shares were sold for P50 per share


         25 - 500 treasury shares were retired.


Required: Answer the following independent case

1. After considering June 15 transaction only the revised total stockholders of GHI Corporation is?

2. After considering June 15, and 20, transaction only the revised total stockholders of GHI Corporation is?

3. After considering all the transactions how much is the amount to be used to record  "Appropriation Reserved for Treasury Shares"

4. After considering all the transactions the total stockholders equity is?

5. Considering all the transactions, How much is the legal capital?

Step-by-step answer

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