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Problem 3-2 What is the amount of the legal capital?

Problem 3-3 On the transactions provided from 2017 to 2018, what are the necessary journal entries?

Problem 3-2 Ben Company provided the following information on December 31, 2018: Preference share capital, P100 Share premium - preference share Ordinary share capital, P10 par Share premium - ordinary shares Subscribed ordinary shares Retained Earnings Note Payable Subscription receivable - ordinary shares 2,300,000 805,000 5,250,000 2,750,000 50,000 1,900,000 4,000,000 400,000 Required: What is the amount of legal capital? Problem 3-3 Night Company held 10,000 shares of P10 par value as treasury reacquired in 2017 for P120,000. On December 31, 2018, the entity reissued all 10,000 shares for P190,000. On the transactions provided from 2017 to 2018, what are the necessary journal entries