1. On January 1, 20x1, COMMISERATE CONDOLE Co. received authorization from the SEC to issue share capital of $2,000,0000 divided into 20,000 shares with par value per share of 100. Of the total authorized share capital, 25% was subscribed at par value and 25% of the total subscription was paid at subscription date. On February 1, 20x1, COMMISERATE received full payment for 3,750 subscribed shares and issued the related share certificates. On February 28, 20x1, COMMISERATE received cash subscription for 2,000 shares at par value. Requirements: a. Provide the necessary journal entries under memorandum method. b. Prepare the share capital portion of COMMISERATE's statement of financial position as of February 28, 20x1. 2. On April 1, 20x1, the board of directors of PEAL LOUD RINGING OF BELLS Co. declared #50 dividends per share to shareholders of record as of April 15, 20x1 for distribution on May 1, 20x1. The shareholders' equity of PEAL as of April 1, 20x1 is as follows: Share capital, authorized capital 20,000 shares, 100 par Subscribed share capital Share premium Retained earnings Treasury shares (at cost of P120 per share) Other components of equity Total shareholders' equity Requirement: Provide all the pertinent entries. 1,600,000 440,000 200,000 908,000 (288,000) 140,000 3,000,000