Part I cProblem 4 Rubidium Company reported the following accounts in the year-end trial balance: Preference share capital authorized, P100 par value P5,000,000 Ordinary share capital, authorized 200,000 shares, no par value, issued 180,000 2,700,000 shares, P15 stated value Unissued preference share capital 1,800,000 Subscriptions receivable, ordinary 170,000 Subscriptions receivable, preference 200,000 Preference share capital subscribed 300,000 Ordinary share capital subscribed 270,000 Treasury preference shares, 5,000 shares at cost 600,000 Retained earnings 2,000,000 Share premium - ordinary 950,000 Required: Determine the following balances: a) Total authorized share capital b) Total unissued capital c) Total issued capital d) Share capital available for subscription e) Legal capital f) Contributed capital g) Total shareholders' equity cProblem 8 Neon Company was organized at the beginning of the current year. The entity provided the following transactions affecting shareholders' equity: 1) The entity was authorized to issue share capital as follows: Preference share capital: P100 par, 30,000 shares Ordinary share capital: P50 par, 100,000 shares 2) 40,000 ordinary shares were issued for cash at P60 per share. 3) 10,000 preference shares were issued at P120 for cash. 4) 10,000 preference shares were subscribed at par value. 5) P400,000 was received on the above subscription to preference shares. 6) 1,000 preference shares were issued in payment of legal fees of P100,000 in connection with organizing the corporation. 7) 20,000 ordinary shares were issued for property, plant and equipment which had a fair value of P1,300,000. 8) 15,000 ordinary shares subscribed for at par