Question: can i ask for help for this problem. Provide explantions for the journal entries. how to solve required 1-7 can you help me? Thank you
can i ask for help for this problem. Provide explantions for the journal entries. how to solve required 1-7 can you help me? Thank you

Problem #14 Shareholders' Equity Transactions R. Carpio Products, Inc. was formed at the beginning of the year. Ordinary share has a P25 par value. The following entries affected the shareholders' equity during its first year's operations: Cash 150,000 Ordinary Shares 125,000 Share Premium-Ordinary 25,000 Organization Expense 75,000 Ordinary Shares 62.500 Share Premium-Ordinary 12,500 C. Cash 29,000 Office Equipment 10,750 Building 30,000 Accounts Payable 29,750 Ordinary Shares 25,000 Share Premium-Ordinary 15,000 d. Cash 60,000 Ordinary Shares 37,500 Share Premium-Ordinary 22,500 e. Cash Dividends 7,500 Cash Dividends Payable 7.500 Cash Dividends Payable 7,500 Cash 7,500 g. Income Summary 30.000 Retained Earnings 30,000 h. Retained Earnings 7,500 Cash Dividends 7,500 Required: Provide explanations for the journal entries and answer the following questions: 1. What is the profit for the year? How many ordinary shares are outstanding? 3. What is the legal capital? 4. What is the total share capital? 5. What is the retained earnings balance at the end of the year? 6. What is the total shareholders' equity? 7. What is the book value per share of the ordinary shares at the end of the year
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