Problem III- The account balances presented below were taken from the ledger of COLETTE

CORPORATION on December 31, 2010;

Subscribed Preference Share Capital- 2,000 shares………………… P 200,000

Subscribed Ordinary Share Capital - 3,000 shares……………………… 150,000
Retained Earnings -Free…………………………………………. 300,000
10% Preference Share Capital, cumulative, authorized 50,000 shares,
par, P 100, issued 20,000 shares………………………… 2,000,000
Ordinary Share Capital , authorized 100,000 shares, P 50 par, issued
50,000 shares……………………………………………… 2,500,000
RE Appropriated for Redemption of Preference Share Capital…. 100,000
RE Appropriated for Contingencies………………………………. 80,000
RE Appropriated for Treasury Shares………………………….. 110,000
Cash Dividends Payable- Ordinary………………………………. 10,000
Stock Dividends Payable- Preference …………………………… 30,000
Stock Dividends Payable-Ordinary …………………………….. 25,000
Subscriptions Receivable- Preference ………………………….. 50,000
Subscriptions Receivable- Ordinary ………………………….. 30,000
Bonds Payable……………………………………………………. 600,000
Share Premium- Donations………………………………. 60,000
Share Premium- preference stock issuances…………………….. 200,000
Share Premium- ordinary stock issuances……………………… 400,000
Share Premium- treasury stock transactions………………………… 9,000
Share Premium recapitalization………………………………… 60,000
Fractional Warrants Outstanding- preference - 500 shares……. 50,000
Revaluation Surplus………………………………………………. 300,000
Treasury Shares- ordinary - 2,000 shares- at cost………………… 110,000

Required: Prepare the shareholders' equity section in good form.

Problem III- Prepare in good form the shareholders' equity section of the DADA Corporation’s Statement
of Financial Position a of December 31, 2010 from the following accounts;

Ordinary Share Capital , no par value , authorized 200,000 shares,

100,000 shares issued, stated value P 50 per share ……… P 5,000,000
8% Preference Share Capital , cumulative and fully participating,
authorized 300,000 shares, par P 50, issued
100,000 shares…………………………………………….. 5,000,000
Share Premium- recapitalization……………………………… … 260,000
Fractional Warrants Outstanding- preference - 500 shares……. 250,000
Revaluation Surplus……………………………………………. 800,000
Treasury stock- preference- 1,000 shares- at cost………………… 40,000
RE Appropriated for Bond Redemption…………………………. 800,000
RE Appropriated for Contingencies…………………………………. 280,000
RE Appropriated for Treasury Shares…………………………… 40,000
Cash Dividends Payable- preference ……………………………. 20,000
Retained Earnings -Free…………………………………………. 800,000
Bonds Payable……………………………………………………. 300,000
Share Premium-Donations… …………………………………….. 40,000
Share Premium- preference stock issuances……… …………….. 60,000
Share Premium- ordinary stock issuances………… …………… 30,000
Share Premium- treasury stock transactions……………………. 16,000
Stock Dividends Payable- preference……………………………… 20,000
Stock Dividends Payable-ordinary……………………………….. 15,000
Subscriptions Receivable- preference…………………………….. 250,000
Subscriptions Receivable- ordinary…………………………….. 100,000
Subscribed Preference Share Capital-10,000 shares……………………… 500,000
Subscribed Ordinary Share Capital- 50,000 shares ……………………… 250,000

Required: Prepare the shareholders' equity section in good form.