Feb.

12 Sold 1,000 shares for P100,000

July 10 Sold 5,000 shares for P630,000

Nov. 5 Sold 7,500 shares for P1,050,000

Prepare journal entries to record each issuance, assuming that:

1. The ordinary shares has a P100 par value.

Feb 12

Cash P100,000

Ordinary Share P100,000 (1,000 shares x 100 par value)

July 10

Cash P630,000

Ordinary Share P500,000 (P5,000 shares x 100 par value)

Share Premium P130,000

Nov 5

Cash P1,050,000

Ordinary Share P7,500 (7,500 shares x 100 par value)

Share Premium P1,042,500

2. The ordinary shares has a P10 stated value.

Feb 12

Cash P100,000

Ordinary Share P10,000 (1,000 share x 10 stated value)

 Share Premium P90,000

July 10

Cash P630,000

Ordinary Share P50,000 (5,000 shares x 10 stated value)

Share Premium P580,000

Nov 5

Cash P1,050,000

Ordinary Share P75,000 (7,500 shares x 10 stated value)

Share Premium P975,000

3. The ordinary shares has no-par or stated value.

Feb 12

Cash P100,000

Ordinary Share P100,000

July 10

Cash P630,000

Ordinary Share P630,000

Nov 5

Cash P1,050,000

Ordinary Share P1,050,000