IA_VALIX2 Problem 20-6

Preference Share Subscription Receivable (20,000 2,000,000

x 100)
Subscribed Preference Share ( 20,000 x P 2,000,000
100)

Preference Share Subscription Receivable ( 4,000 480,000

x 120)
Subscribed Preference Share ( 4,000 x 100) 400,000
Share Premium – Preference Share 80,000

Cash ( 2,480,000 – 120,000) 2,360,000

Preference Share Subscription Receivable 2,360,000

Subscribed Preference Share ( 22,000 x 100) 2,200,000

Preference Share Capital ( 22,000 x 100) 2,200,000

Land 230,000
Ordinary Share Capital ( 8,000 x P 10) 80,000
Share Premium - Ordinary 150,000

Ordinary Share Subscription Receivable ( 40,000 x 1,200,000

P 30)
Subscribed Ordinary Share Capital ( 40,000 x 400,000
P 10)
Share Premium – Ordinary ( 40,000 x P 20) 800,000

Cash ( 1,200,000 -360,000) 840,000

Ordinary Share Subscription Receivable 840,000

Subscribed Ordinary Share Capital ( 16,000 x P 160,000

10)
Ordinary Share Capital 160,000

Preferred Shares:
Preference Share Capital (22,000 x P 100) 2,200,000

Subscribed Preference Share (2,000 x P 100) 200,000

Subscription Receivable- Preference (120,000)

Premium - Preference 80,000

Ordinary Shares:
Ordinary Share Capital (24,000 x P 10) 240,000

Subscribed Ordinary Share (24,000 x P 10) 240,000

Subscription Receivable- Ordinary (360,000)

Premium - Ordinary 950,000