Business, 05.05.2020 14:47, taylormjensen

Five years ago, Dunn Trading Co. issued 2,500 ordinary shares. The shares have a P2 par value and sold at that time for P12 per share. On January 1, 2012, Dunn Trading Co. Purchased 1,000 of these shares for P24 per share. On September 30, 2012, Dunn reissued 500 of the shares for P28 per share. The journal entry to record the reissuance will include

A. A credit to cash P14,000.
B. A debit to Treasury Shares P12,000.
C. A credit to Treasury Shares P14,000.
D. A credit to Share Premium—Treasury P2,000.

Answers: 2

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Five years ago, Dunn Trading Co. issued 2,500 ordinary shares. The shares have a P2 par value and so...