How to solve the following cases in terms of being an auditor

Supremo Managed Income Fund

(An Open-End Mutual Fund Company)

Statements of Financial Position

AsatDecember 31,2020and 2019

(All amounts in thousands of Philippine Peso)

LIABILITIES AND EQUITY

LIABILITIES

Accounts payable and accrued expenses

43,238

5,169

Deposits for future subscriptions

?

?

EQUITY

Share capital

1,000

1,000

Share premium

56,202

60,422

Deposits for future subscriptions

?

?

Retained earnings

115,579

64,252

On April 5, 2018, the BOD approved an increase in the Fund's authorized capital from 100,000,000 shares to 702,876,600 shares at P0.01 par value, increasing the authorized capital from P1,000,000 to P7,028,766. On December 18, 2018, an application for an increase in authorized capital stock was filed with the SEC.

On various dates in 2018, the Fund received cash from certain investors as deposits for future stock subscriptions for 455,701,700 shares amounting to P538,594 which was presented as part of equity asatDecember 31,2018in accordance with the guidelines set by the SEC.

In 2019, the Fund received cash from certain investors as deposits for future subscriptions amounting to P227,858, for 154,190,712 shares. The amount of P219,041 for 147,174,900 shares of these deposits for future subscriptions had been taken up as part of equity in accordance with the guidelines set by the SEC. The application for the increase in authorized share capital is still awaiting approval of the SEC asatDecember 31,2020and 2019.

In 2020, the cash received for deposits for future subscriptions amounted to P51,112 for 39,655,947 shares, this was approved by the BOD but pending the filing of additional increased in authorized capital stock with the SEC.

What is the amount of Deposit for future subscriptions to be presented as liability asatDecember 31, 2019? Round off your answer to the nearest thousands of Peso.

How many shares is attributable to the DFFS presented as liability asatDecember 31, 2019? State the actual number of shares.

What is the amount of Deposit for future subscriptions to be presented as liability asatDecember 31, 2020?Round off your answer to the nearest thousands of Peso.

What is the amount of Deposit for future subscriptions to be presented as equity asatDecember 31,2019and 2020?Round off your answer to the nearest thousands of Peso.

Whatisthe total Liabilities asatDecember 31, 2019?Round off your answer to the nearest thousands of Peso.

Whatisthe total Liabilities asatDecember 31, 2020?Round off your answer to the nearest thousands of Peso.

What is the total equity asatDecember 31, 2019?Round off your answer to the nearest thousands of Peso.

What is the total equity asatDecember 31, 2020?Round off your answer to the nearest thousands of Peso.

Please include the solution as per solving.