Pa answer po with entries and complete solution

Phe erant Cempany's contributerd capital section of its January 1. 2010 statement of financial position s as follows: rveiere oo share capita, (6%, PSO pr, 8,000 shares a uthorized. Ondinary share capita,?10 stated value, 30,000 shares authorized pre ference shares subseribed (800 shares subscribed P54 per share) 3,400 shares ssued and outs tanding) 170,000 120,000 40,000 12.800 72.000 414,800 13,000 shares issued and outstanding) ?nlona, paid-in capital on preference shares Aational paid-in capital on ordinary shares Toral coneributed Capitel sora the company entered into the following transactions: Establshed Period. The estimated fair value of the opti an 3 a compensatory share option plan for its key executives. The option vest after a 3-year service ons expected to be exercised is P81,000 Mar. e Necelved the remaining P40 pershare on the subscribed preference shares and issued the shares Cach 1le, so Ap 4Sold 300 preference shares at P55 per share Niay S Recelved a subscrlption down payment of P6 per share on 1,000 ordinary shares. The remaining P11 per Share balance is due in 60 days. Cauh 10, 200 June 6 Sold 600 ordinary shares at P17 per share Oc 4,2?? Recelved the remaning balance on subs cribed ordinary shares and issued the shares Sept. 22 Purchased building by paying P9,000 cash and issuing 800 ordinary shares and 450 preference shares. Ordinary and preference shares are currently selling for P19 and P57 per share, respectively Raacquired 900 rdinany shars a p19.50 per share. the compariy uses the cost method to account for Oct. 13 Treasury shares.couty Now. 24 for P32.000 a oombination of 700 ordinary shares and 12% bonds with a face value of P 20,000. y share is currently selling for P18 per share. No market value exists for the bonds. 1.5b0 12, 4T Dec. 15 Reissued the 900 treas ury share at P20.50 per share. Traty Distributed a P3.00 per share dividend to all outstanding preference shares and a P1.50 pershare dividend To all ordinary shares outstanding on this date (debit to Retained Earnings and credit cash for each Dividend) ke Dec. 28 ro,200 Dac 29 Declared a two-for-one share split on the ordinary shares, reducing the stated value to P4 per share and Increasing the authorized shares to 60,000. isrued Goro c) droe with por volvc of inD as an SQUIRED repare journal entry for each transaction and prepare the contributed tement of financial pasition capital section of the December 31, 2010 Phe erant Cempany's contributerd capital section of its January 1. 2010 statement of financial position s as follows: rveiere oo share capita, (6%, PSO pr, 8,000 shares a uthorized. Ondinary share capita,?10 stated value, 30,000 shares authorized pre ference shares subseribed (800 shares subscribed P54 per share) 3,400 shares ssued and outs tanding) 170,000 120,000 40,000 12.800 72.000 414,800 13,000 shares issued and outstanding) ?nlona, paid-in capital on preference shares Aational paid-in capital on ordinary shares Toral coneributed Capitel sora the company entered into the following transactions: Establshed Period. The estimated fair value of the opti an 3 a compensatory share option plan for its key executives. The option vest after a 3-year service ons expected to be exercised is P81,000 Mar. e Necelved the remaining P40 pershare on the subscribed preference shares and issued the shares Cach 1le, so Ap 4Sold 300 preference shares at P55 per share Niay S Recelved a subscrlption down payment of P6 per share on 1,000 ordinary shares. The remaining P11 per Share balance is due in 60 days. Cauh 10, 200 June 6 Sold 600 ordinary shares at P17 per share Oc 4,2?? Recelved the remaning balance on subs cribed ordinary shares and issued the shares Sept. 22 Purchased building by paying P9,000 cash and issuing 800 ordinary shares and 450 preference shares. Ordinary and preference shares are currently selling for P19 and P57 per share, respectively Raacquired 900 rdinany shars a p19.50 per share. the compariy uses the cost method to account for Oct. 13 Treasury shares.couty Now. 24 for P32.000 a oombination of 700 ordinary shares and 12% bonds with a face value of P 20,000. y share is currently selling for P18 per share. No market value exists for the bonds. 1.5b0 12, 4T Dec. 15 Reissued the 900 treas ury share at P20.50 per share. Traty Distributed a P3.00 per share dividend to all outstanding preference shares and a P1.50 pershare dividend To all ordinary shares outstanding on this date (debit to Retained Earnings and credit cash for each Dividend) ke Dec. 28 ro,200 Dac 29 Declared a two-for-one share split on the ordinary shares, reducing the stated value to P4 per share and Increasing the authorized shares to 60,000. isrued Goro c) droe with por volvc of inD as an SQUIRED repare journal entry for each transaction and prepare the contributed tement of financial pasition capital section of the December 31, 2010