Directions for

A: For each class of stock, compute the authorized number of shares, issued shares, unissued shares, issued and outstanding shares, subscribed shares, still available for subscription, and legal capital.

Directions after:

1) Prepare a table tracking down the movement of the stocks, one each for the preferred and common. Start with the December 31 balances.

2) Journal entries

3) Prepare the stockholders equity section as of Feb. 28, 2022.

4) For each class of stock, answer the same requirements as in A above.

A. The following accounts appear in the trial balance of DAVAO EAGLE Corporation as of December 31. 2006 : Direction: For each class of stock, compute the authorized number of shares, issued shares, unissued shares, issued and outstanding shares, subscribed shares, still available for subscription, legal capital. To continue with problem above, assume the following transactions took place during 2022: Jan. 10 One half of the subscription receivable was collected and certificates of stock issued for 1,000 shares. 20 Remaining subscription was declared delinquent and the corresponding shares put up for public auction. Advertising paid, P5,500. 25 A bidder for 300 shares paid the amount due plus accrued interest of P750 and the corresponding certificates were issued. 31 A stockholder received 2,000 preferred shares with a market value of P200 in exchange for land costing P150,000 with a market value of P250,000. Feb. 8300 treasury shares were sold for P45,000. 20 A stockholder paid P70,000 for 500 common shares. 285,000 preferred shares were redeemed at a price of P120 per share. Direction: 1) Prepare a table tracking down the movement of the stocks, one each for the preferred and common. Start with the December 31 balances. 2) Journal entries 3) Prepare the stockholders' equity section as of Feb. 28, 2022. 4) For each class of stock, answer the same requirements as in A above