d: Jan 5: Issuance of 6,000 shares at PI 10 per share for cash. Stock issue costs that were paid by the corporation amounted to P80,000 Jan 28: Purchased 5,000 ordinary shares for the treasury at P200 per share Feb 2: Shareholders donated 4,000 entity's own ordin
The shareholders' equity of Brenalyn Corporation at January 1, 2021 appears below:
12%
Share premium - Preference shares - P175,000
Ordinary shares, P 100 par, 180,000 shares authorized,35,000 shares issued and outstanding - P3,500,000
Share premium - Ordinary shares - P1,750,000
During 2021, the following transactions occurred:
Jan 5: Issuance of 6,000 shares at PI 10 per share for cash. Stock issue costs that were paid by the corporation amounted to P80,000
Jan 28: Purchased 5,000 ordinary shares for the treasury at P200 per share
Feb 2: Shareholders donated 4,000 entity's own ordinary shares to the corporation
Feb 14: Sold half of the treasury shares acquired last January 28 for P220 pershare
Feb 14: Sold the donated shares at P220 per share
Jul 15: The company issued for P1,100,000 cash, 4,000 preference shares and1,000 ordinary shares. The preference and ordinary shares have fairvalues of P220 and PI 20 per share, respectively on the date of sale.
Oct 15: Received subscriptions to 15,000 ordinary shares at P250 per share
Nov 15: Received cash payment from each subscriber for 40% of the ordinaryshares subscription price.
Nov 27: Received full payment of the 10,000 shares on Oct. 15 and Nov. 15.
Dec 31: Closed net income of P1,000,000 from the income summary account toretained earnings
- How much is the Total share Premium on December 31, 2021 statement Offinancial position?
- How much is the Retained earnings - unappropriated on December 31, 2021statement of financial position?
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