7-9. How do I solve the following problems and what are the correct answers? Thank you!

PROBLEM 7.

The audit of JR Company for the year ended December 31, 2020 was completed on March 1, 2021. The financial statements were signed by the managing director on March 15, 2021 and approved by the shareholders on March 31, 2021. The entity's issued share capital comprised 100,000 ordinary shares with P100 par value per share. The entity issued additional 250,000 shares on March 1, 2021 at par value. What amount is to be adjusted in the financial statements for the event after the reporting period?Renvir Company made the following acquisitions during the year: . Purchased a new machine on an installment payment basis. A downpayment of P200,000 was made and 5 monthly installments of P200,000 are to be made at the end of each month. The cash equivalent price of the machine was P1,000,000. The entity incurred and paid installation cost amounting to P50,000. Exchanged an old packing machine, which cost P1,500,000 and was 40% depreciated, for another used machine and paid a cash difference of P200,000. The fair value of the old packaging machine was determined to be P1.000.000. What is the total amount to be capitalized as cost of machinery?Matt Company reported the following events during 2021: . It was decided to write off P2.000,000 from inventory which was over two years old as it was obsolete. . Sales of P1,000,000 had been omitted from the financial statements for the year ended December 31, 2021. . A counting error relating to the inventory on December 31, 2020 was discovered, This required a reduction in the carrying amount of inventory at that date of P500,000. What adjustment is required to restate retained earnings on January 1, 2020