Exercise $10-3($Reacquisition of Shares through Donation$)$

In $2014,$ the Jolo Company issued $150,000$ shares of its P$10$ par ordinary share capital at P$25.$ In $2015,$ a major stockholder donated $5,000$ shares when the market value of the share capital is P$40$ per share. Subsequently, all the donated shares were sold at P$50$ per share.

Instructions:

Prepare entries to record the receipt of the donated shares and their subsequent sale using the two alternative methods of recording.

State the number of capital shares issued and outstanding after the donation and after the sale of the donated shares.