Date

Aug-12 Cash 82500

Retained Earnings 7500
Treasury Shares 90000

Aug-20 Cash 93000

Treasury Shares 90000
Paid in Capital from Treasury Shares 3000

Aug-31 Ordinary Share Capital 25000

Share Premium 3378
Paid in Capital from Treasury Shares 1622
Treasury Shares 30000

Paid in Capital:
Ordinary share capital, par value of P50,
18,000 shares issued 900000

Additional Paid in Capital:

Share Premium 121622
Paid in Capital from Treasury Shares 1378 123000
Total Contributed Capital 1023000

Retained Earnings 4492500

Total 5515500
Date Debit Credit
Authorized to issue 50,000 ordinary shares at par value of P100

Subscription Receivable-Ordinary Shares 1250000

Subscribed Ordinary Share Capital 1000000
Share Premium-Ordinary 250000

Cash 312500
Subscription Receivable-Ordinary Shares 312500

Cash 468750
Subscription Receivable- Ordinary Shares 468750

Cash 445312.5
Subscription Receivable-Ordinary Shares 445312.5

Subscribed Ordinary Share Capital 950000

Ordinary Share Capital 950000

Due from Highest Bidder 24812.5

Subscription Receivable 23437.5
Advertising and legal expenses 1375

Cash 24812.5
Due from Highest Bidder 24812.5

Subscribed Ordinary Share Capital 50000

Ordinary Share Capital 50000