1 The Corp. was organized on April 2020. Share capital transactions for the year are shown below: April 15 - Authorized to issue 80,000 shares of P30 par value ordinary share. 20-Issued 25,000 shares at P35 per share. May 25 - Issued 500 shares for legal services valued at P20,000. Sept. 30-Issued 2,500 shares for a tract of land valued at P130,000. a. Prepare the journal entry to record the transactions. 2 The Corporation issued 40,000 shares of P100 par value ordinary shares at P150 per share, and 40,000 shares of P150 par value preferred shares at P200 per share. How much is the issued share capital of ordinary shares. a. b. How much is the share premium of preferred shares. C. How much is the total share premium for both ordinary and preferred shares. 3 The Corporation is authorized to issue 40,000 shares of 8% preference shares at P45 par value, and 50,000 ordinary shares at P20 par value. On August 04, 2020, the corporation issued 5,000 ordinary shares for cash at P65 per share, and 10,000 of 8% preferred shares in exchange for land with fair market value of P600,000. What are the entries to record the transaction? a. b. How much is the authorized share capital? How many shares were not issued as of Aug. 04: