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What is the journal entry to record these transactions? Ordinary Share Capital The company was organized on January 1, 2010. It was authorized by the

 What is the journal entry to record these transactions?

Ordinary Share Capital

The company was organized on January 1, 2010. It was authorized by the Securities and Exchange Commission to issue 200,000 shares of P100 par value ordinary shares.On January 1, 2019, the company has the following balances related to its Ordinary Share Capital:Ordinary Share Capital, 65,000 shares issued of which 4,000 shares are in treasury6,500,000Subscribed Ordinary Share Capital, 10,000 shares1,000,000Subscription Receivable - Ordinary Shares500,000Share Premium - Ordinary Share Capital1,200,000Treasury Ordinary Shares at Cost440,000Retained Earnings Appropriated for Treasury Ordinary Shares440,000The following are the transactions relating to Ordinary Share Capital during 2019 and 2020:Year 2019March 1: The company collected the ordinary shares subscription in full and the corresponding certificate of stocks were issued.May 1: Declared a 10% bonus issue to shareholders of record as of May 31, 2019. The bonus issue is to be distributed on July 1, 2020. Market price of each ordinary share on this date is P85.June 1: 1,500 of the Ordinary Treasury Shares were issued at P80 per share.December 31: The company declared a P10 cash dividend on each ordinary share to be paid on January 20, 2020.Year 2020Jan 1: Issued 20,000 ordinary shares together with 10% Redeemable Preference Shares. (Refer to information on 10% Redeemable Preference Shares)March 1: P1,500,000 of the bonds were converted into ordinary shares. (Refer to information on Bonds Payable).August 1: A 2-for-1 split is effected. Because of this share split: (1) Each P1,000 bond is convertible into 10 ordinary shares of P50 par; (2) Each share of the 12% Cumulative Preference Shares is convertible into 4 ordinary shares; (3) Exercise Price for the options are: P54 for MSOP and P52.5 for ELTIP; Option shares are: 60,000 for MSOP; and 100,000 for ELTIP; Revised Average Market Prices are: 2018 - P71.5; 2019 - P91; and 2020 - P103.5; Revised Fair Value of stock options granted: January 1, 2019 - P13.50; December 31, 2019 - P14.50; and December 31, 2020 - P16.50.September 1: Acquired 5,000 ordinary shares at P56 per share.November 1: Reissued 3,000 treasury ordinary shares already on hand of the company as at January 1, 2019. Reissue Price is P65 per share.December 31: Declared a P7 cash dividend on each ordinary share.

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