Answer and explain

P100 Ordinary shares Share Premium Retained Earnings capital, P5,000,000 share par, 50,000 500,000 2,500,000 Case 1. All the 50,000 shares are called in for cancelation. Instead, 50,000 no-par shares with stated value of P50 are issued. Case 2. All the 50,000 shares are called in for cancelation. Instead 50,000 no-par shares with stated value of P150 per share are issued Case 3. The par value of P100 is reduced to P80 per share 24. In Case 1, the entry for the change from par to no-par would include A. Debit Ordinary Share Capital of 5,000,000 B. Debit to Share Premium of 3,000,000 C. Debit to Retained Earnings of 2,000,000 D. Credit Share Premium- Recapitalization 1,000,000 25. In Case 2, the entry for the change from par to no-par would include: A. Debit Ordinary Share Capital of 5,000,000 B. Debit to Share Premium of 3,000,000 C. Debit to Retained Earnings of 2,000,000 D. Credit Share Premium- Recapitalization 1,000,000 26. In Case 3, the entry to reduce the par value would include A. Debit Ordinary Share Capital of 5,000,000 B. Debit to Share Premium of 3,000,000 C. Debit to Retained Earnings of 2,000,000 D. Credit Share Premium- Recapitalization 1,000,000