Sir Win – Accounting Lectures

Jokes Tagalog
Stories Legit Professor
Life Lessons

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Lecture 07: Treasury Shares
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The Dec. 31, 2021 shareholders’ equity section of April
Corporation’s statement of financial position is as follows:

April Corporation
Shareholder’s Equity Section
December 31, 2021
Ordinary Shares, P10 par, 200,000 shares authorized,
150,000 shares issued and outstanding 1,500,000
Share Premium - ordinary 300,000
Retained Earnings 2,500,000
Total Shareholders’ Equity 4,300,000

Prepared the journal entries to record the following transactions

that took place during January 2022:

Feb. 8 Purchased 50,000 shares of its own April for P750,000.

17 Sold 10,000 shares of the treasury stock for 20.00/share.

 Sir Win – Accounting Lectures
Jokes Tagalog
Stories Legit Professor Mar. 29
Life Lessons Sold
15,000 shares of the treasury stock for 8.00/share.

Apr. 3 Sold 10,000 shares of the treasury stock for 18.00/share.

22 Retire the remaining treasury stock.