Problem 9 ParCor PDF

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Problem #9 page 6- Date Debit Credit 20181-Jan2-JanCash ₱ 2,400,000. Ordinary Share ₱ 1,000,000. Share Premium-Ordinary ₱ 1,400,000.3-Jan Building ₱ 820,000. Inventory ₱ 380,000. Ordinary Share ₱ 500,000. Share Premium-Ordinary ₱ 700,000.4-Jan Organization Expense ₱ 10,000. Cash ₱ 10,000.5-JanCash ₱...

Description

Problem #9 page 6-53 1. General Journal Date 2018

Particulars

Debit

Credit

authorized the issuance of 2 million shares of P5 par value ordinary shares and 100,000 shares of P100 par value, 10% 1-Jan cumulative preference shares. 2-Jan Cash Ordinary Share Share Premium-Ordinary

₱ 2,400,000.00

3-Jan Building Inventory Ordinary Share Share Premium-Ordinary

₱ ₱

4-Jan Organization Expense Cash

₱

5-Jan Cash Preference Share Share Premium-Preference

₱ 1,320,000.00

₱ 1,000,000.00 ₱ 1,400,000.00 820,000.00 380,000.00 ₱ ₱

500,000.00 700,000.00

₱

10,000.00

10,000.00

₱ 1,200,000.00 ₱ 120,000.00

2019 4-Jun Cash Ordinary Share Share Premium-Ordinary

₱ 1,500,000.00 ₱ 500,000.00 ₱ 1,000,000.00

4. General Journal Date 2018 a. Cash Ordinary Share b.

Particulars

Cash Ordinary Share Share Premium-Ordinary Share

Debit

Credit

₱ 2,400,000.00 ₱ 2,400,000.00 ₱ 2,400,000.00 ₱ 2,000,000.00 ₱ 400,000.00

2.

Shareholders' Equity As at Dec. 31, 2018 Share Capital Ordinary Share Preference Share Share Premium-Ordinary Share Premium-Preference Total

₱ ₱ ₱ ₱ ₱

1,500,000.00 1,200,000.00 2,100,000.00 120,000.00 4,920,000.00

₱

500,000.00

Shareholders' Equity As at Dec. 31, 2019 Share Capital Ordinary Share Preference Share Share Premium-Ordinary Share Premium-Preference Total

₱ 1,000,000.00 ₱ 1,500,000.00

3.

Dividend Allocations Ordinary 2018: Dividends Paid = P50,000 (50,000*10%) (50,000-5,000) 2019: Dividends Paid = P300,000 (300,000*10) (300,000-30,000) Total

Preference ₱ 5,000.00

₱ 45,000.00

₱ 30,000.00 ₱ 270,000.00 ₱ 315,000.00 ₱ 35,000.00...