Help ME IN SHAREHOLDER'S EQUITY

EE_ vnoressom . Problem #23 ' T. Galang Corporation was incorporated on Jan. 1, 2019, the articles of incorporation authorized the' Issuance of 50,000 shares of P5 par ordinary shares and 20, 000 shares of P100 par, 8% preference shares. The following events occurred during 2019: 3. Issued for cash 10, 000 shares of ordinary shares at P25 per share and 1,000 shares of preference shares at P110 per share on Jan. 15, 2019. b. Amuired a book collection on April 1 in exchange for 2,000 shares of ordinary shares. At the time of the exchange, the Ordinary shares was selling on the local stock exchange for P30 per share. c. Repurchased 500 shares of ordinary shares on May 1 at P20 per share. The, corpora'tion' Is holding the stock to be used fOr an employee bonus plan. d. Declared a cash dividend of P1 per share to ordinary shareholders and an 8% ' dividend to preference shareholders on. July 1. The preference shares is noncumulative, nonparticipating. The dividend will be distributed on Aug. 1. V e. Distributed the cash dividend on Aug. 1. f. Declared, and distributed to preference shareholders a 10% share dividend on Sept. 1. At the time of the dividend declaration, preference Shares was valued at P130 per share. ' ' g. On Dec. 31, calculated the 'annual profit for the year to be P200, 000. T. Galang wants to transfer the prot from the Income Summary account to the Retained Earnings account. ~ Required: -. ' _ g 1. Journalize'the transactions. 2. Prepare the shareholders' equity'section of T. Galang Corporatio'n- 5 statement of financial position as at Dec. 31, 2019. 3. Determine the book value per share of the ordinary-shares. Assume that the preference shares can be redeemed at par. ~ - NAME: SCORE: SECTION: PROFESSOR: Problem #31 Preparation of the Shareholders' Equity Section of a Statement of Financial Position ' On Dec. 31, 2018, selected accounts from the trial balance of Dimaculangan, Inc. showed the following balances: Debit Credit P1,550,000 Retained Earnings Subscribed Ordinary Shares, 2,000 shares 100,000 600,000 Long-term Notes Payable 5% Preference Shares, P100 par 1,500,000 Share Premium-Ordinary 1,350,000 Subscriptions Receivable P120,000 Share Premium-Treasury 280,000 Organization Expense 200,000 Share Premium-Preference 850,000 Ordinary Shares, P50 par 2,500,000 Donated Capital 590,000 Treasury Stock, 450 shares at Cost 40,000 . Dimaculangan was authorized by its articles of incorporation to issue 500,000 shares of P50 par ordinary shares and 25,000 shares of P100 par cumulative, nonparticipating preference shares. Note that subscriptions receivable are collectible next year. Required: Choose the appropriate shareholders' equity accounts from those listed above and prepare the shareholders' equity section of Dimaculangan, Inc.'s Dec. 31, 2018 statement of financial position