HW On Basic Share Capital Transactions
Uploaded by
Joana TrinidadHW On Basic Share Capital Transactions
Uploaded by
Joana Trinidad2018
Authorized to issue 100,000, 12% Cumulative
May-01
Preference shares at P100 per share
Authorized to issue 200,000 ordinary shares
At P50 per share
Subscription Receivable-Preference Shares (30,000 xP100) 3,000,000
Subscribed Preference Share Capital
To record common stock subscription of incorporators.
Subscription Receivable- Ordinary Shares (60,000 x P50 ) 3,000,000
Subscribed Ordinary Share Capital
To record common stock subscription of incorporators.
Cash 1,500,000
Subscription Receivable-Preference Share(3,000,000 x .25)
Subscription Receivable-Ordinary Share (3,000,000 x .25)
To record downpayment of incorporators.
June
5 Organization Expense 120,000
Cash
Paid for organization cost.
Subscription Receivable-Preference Share(5,000 x P110) 550,000
Subscribed preference share capital (5,000 x P100)
15
Preference share Premium
To record subscription of various investors.
Cash (550,000 x .25) 137,500
Subscription Receivable-Preference share
To record downpayment of various investors.
Subscription Receivable-Ordinary Share(30,000 x P52) 1,560,000
17 Subscribed Ordinary Share Capital
Ordinary Share Premium
Cash (1,560,000 x .25) 390,000
Subscription receivable-Ordinary Share
To record downpayment of common stock subscription.
30 Cash 2,250,000
Subscription receivable-Preference Share
Subscription Receivable-Ordinary Share
To record first installment of incorporators.
Jul-01
Cash 1,170,000
Subscription Receivable-Ordinary Share
Subscribed Ordinary Share 1,500,000
Ordinary Share Capital
15
Cash 137,500
Subscription Receivable-Preference Share
18
Land 75,000
Ordinary Share Capital
Ordinary Share Premium
20
Cash 750,000
Subscription Receivable-Preference Share
Subscription Receivable-Ordinary Share
Subscribed Preference Share 1,000,000
Subscribed Ordinary Share 1,000,000
Preference Share Capital
Ordinary Share Capital
30
Cash 1,500,000
Subscription Receivable-Preference Share
Subscription Receivable-Ordinary Share
Subscribed Preference Share Capital 2,000,000
Subscribed Ordinary Share Capital 2,000,000
Preference Share Capital
Ordinary Share Capital
Income Summary 105,000
Retained Earnings
3,000,000
3,000,000
750,000
750,000
120,000
500,000
50,000
137,500
1,500,000
60,000
390,000
1,125,000
1,125,000
1,170,000
1,500,000
137,500
70,000
5,000
375,000
375,000
1,000,000
1,000,000
750,000
750,000
2,000,000
2,000,000
105,000
Authorized to issue 50,000 common shares at P100 par
2018 Jan 1
value
Subscription Receivable-Ordinary 1,250,000
Subscribed Ordinary Share Capital 1,000,000
Ordinary Share Premium 250,000
Cash
312,500
Subscription Receivable- Ordinary Shares 312,500
Cash 468,750
Ma31
Subscription Receivable- Ordinary Shares 468,750
Cash 445,312.50
31
Subscription Receivable-Ordinary Shares 445,312.50
Subscribed Ordinary Share Capital
950,000
Ordinary Share Capital 950,000
Due from Highest Bidder 24,812.50
Subscription Receivable – Ordinary 23,437.50
Cash 1,375
Cash 24,812.50
Due from Highest Bidder 24,812.50
Subscribed Ordinary Share Capital 50,000
Ordinary Share Capital 50,000
Shareholders’ Equity:
Paid In Capital
Authorized 100,000 18% cumulative preference shares, at
P100 par
Issued and Outstanding Preference Share, 30,000 3,000,000
Subscribed 5,000 500,000
Authorized 200,000 common shares, at P50 par
Issued and Outstanding Ordinary Shares, 91,400
Additional Paid In Capital:
Preference Share Premium 50,000
Ordinary Share Premium 65,000
Total Paid In Capital
Retained Earings
Total Shareholders' Equity
3,500,000
4,570,000
115,000
8,185,000
105000
8,290,000
