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please answer the two question immediately On January 1,2019, ABC Company issued 2,000 ordinary shares with a par value of P 20 for p 25
please answer the two question immediately
On January 1,2019, ABC Company issued 2,000 ordinary shares with a par value of P 20 for p 25 each. Transactions cost of P 15.000 related to issuance was also incurred. The balance of the Ordinary share premium account as of this date is P 25 000. How much is charged to Retained earnings in the issuance of the 2.000 ordinary shares? 12 Points) 22 The Blazing Blue Corporation is authorized to issue 100,000 P 10 par value ordinary shares and 30,000 no par but with stated value of P 100 preference shares. The corporation engaged in the following share capital transactions through December 31,2019: - 30,000 ordinary shares were issued for P 350,000 and 12,000 preference shares for an equipment valued at P 1,475,000. - Subscriptions for 4,500 ordinary shares have been taken and 40% of the subscription price of P 16 per share has been collected. The shares will be issued upon collection of the subscription price in full. - 30 days after call date, the subscription is declared to be delinquent and were advertised for sale at a public auction. other costs related to the sale of delinquent shares costs P5,000. Received bids from the following: A- 500 shares; B- 700 shares; C- 1,000 shares - The amount from the highest bidder is collected and certificates of share capital were issued. - The retained earnings balance on December 31, 2019 is P 350,000. How many shares were issued to the original subscriber? In (2 Points Enter yourStep by Step Solution
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