DATE PARTICULARS DEBIT

Aug. 1 Authorized to issue 100,000 ordinary shares P50 par and

50,000 8% preference shares at P100 par

Subscription Receivable-Ordinary 1,500,000

Subscribed Share Capital-Ordinary
#

Cash 500,000
Subscription Receivable-Ordinary
#

5 Subscription Receivable-Preference 2,000,000

Subscribed Share Capital-Preference
#

Cash 1,000,000
Subscription Receivable-Preference
#

10 Cash 1,100,000
Share Capital-Ordinary
Share Premium-Ordinary
#

12 Equipment 560,000
Share Capital-Preference
Share Premium-Preference
#

30 Cash 1,000,000
Subscription Receivable-Preference
#

Sept. 1 Cash 500,000

Subscription Receivable-Ordinary
#

30 Cash 400,000
Subscription Receivable-Ordinary
CREDIT

Paid In Capital
1,500,000 8% Share Capital-Preference, authorized
to issue 50,000 shares, par value P100
5,000 shares
Subscribed Shares 20,000 shares
500,000
Share Capital-Ordinary, authorized to
issue 100,000 shares, par value P50
20,000 shares
2,000,000 Subscribed Shares 30 shares
Additional Paid In Capital
Share Premium-Preference
Share Premium-Ordinary
1,000,000 Total Shareholder's Equity

1,000,000
100,000

500,000
60,000

1,000,000

500,000

400,000
 500,000
2,000,000 2,500,000

1,000,000
1,500,000 2,500,000

60,000
100,000
5,160,000
 Date Particulars Debit
May-01 Authorized 100,000, 12% cumulative preference shares par at P100
per share and 200,000 common shares par P50

Subscription Receivable-Preference 3,000,000

Subscription Receivable-Ordinary 3,000,000
Subscribed Share Capital-Preference
Subscribed Share Capital-Ordinary

Cash 1,500,000
Subscription Receivable-Preference
Subscription Receivable-Ordinary

Jun-05 Orgnaizational Expense 120,000

Share Capital

15 Subscription Receivable-Preference 550,000

Subscription Share Capital-Preference
Share Premium-Preference

Cash 137,500
Subscription Receivable-Preference

17 Subscription Receivable-Ordinary 1,560,000

Subscription Share Capital-Ordinary
Share Premium-Ordinary

Cash 390,000
Subscription Receivable-Ordinary

30 Cash 2,250,000
Subscription Receivable-Preference
Subscription Receivable-Ordinary

Jul-01 Cash 1,170,000

Subscription Receivable-Ordinary

Subscribed Share Capital-Ordinary 1,560,000

Share CapitaL-Ordinary

15 Cash 137,500
Subscription Receivable-Preference

18 Land 75,000
Subscription Share Capital-Ordinary
Share Premium-Ordinary

20 Cash 750,000
 Subscription Receivable-Preference
Subscription Receivable-Ordinary

Subscribed Share Capital-Preference 1,000,000

Subscribed Share Capital-Ordinary 1,000,000
Share Capital-Preference
Share Capital-Ordinary

30 Cash 1,500,000
Subscription Receivable-Preference
Subscription Receivable-Ordinary

Subscribed Share Capital-Preference 2,000,000

Subscribed Share Capital-Ordinary 2,000,000
Share Capital-Preference
Share Capital-Ordinary

Aug-31 Income Summary 105,000

Retained Earnings
Credit PREFENCE SHARE SUBSCRIBED PREFERENCE SHARE
PREFERENCE SHARE PREMIUM
CAPITAL
1-May 3,000,000
Jun-15

3,000,000
3,000,000

750,000
750,000

120,000

500,000
50,000

137,500

1,500,000
60,000

390,000

1,125,000
1,125,000

1,170,000

1,560,000

137,500

70,000
5,000
 375,000
375,000

1,000,000
1,000,000

750,000
750,000

2,000,000
2,000,000

105,000
ORDINARY SHARE SUBSCRIBED ORDINARY RETAINED
CAPITAL ORDINARY SHARE SHARE PREMIUM EARNINGS
CAPITAL
3,000,000
Treasury Share 40,000
Cash 40,000