reference: https://docdro.id/zzuhQQd

Answer nos. 22,23,24 : Please before you answer, please open first the reference given above! because it can help u to answer this problem. Thank you!

Instructions:

• Answers must been encode in excel and u may upload here and give me a link (https://www.docdroid.net/), and solutions/ how did you came up with that amount must be shown if necessary. read the note below before answering prob nos. 22,23, and 24. Thanks

22.

The Mega Corporation is authorized to issue 50,000 shares of ordinary share capital with a stated value of P20, The following transactions have taken place in relation to the share capital: a. Issued 12,500 shares for cash at stated value. b. Issued 2,500 shares to attorneys for services in securing corporate charter for preliminary legal costs of organizing the corporation. The value of the services was P70,000. C. Issued 2,000 shares to the corporate promoters. Each ordinary share is selling at P25 on this date. d. Issued 10,000 shares in exchange for land valued at P350,000. e. Issued for cash 5,000 shares at P24 per share. Required: Prepare journal entries to record the transactions including authorized capital, using the memorandum entry method.The following transactions took place during July: July 1 Issued to incorporators 125,000 ordinary shares at P15 per share and 12,500 shares at par value. 8 Issued 1,250 preference shares to corporate promoters. The value of preference share capital on this date is P60 per share. 12 Received subscription for 75,000 ordinary shares at P20 per share with a down payment of 40% of the total subscription price. 21 Issued 20,000 ordinary shares in exchange for the following: Fair value Merchandise Inventory--- P10,000 Land -150,000 Building -100,000 Equipment -20,000 30 Received the balance due on the subscription on July 12 and shares were issued to the subscribers.Required: Prepare journal entries to ecord the transactions including authorized capital, using the memoran um entry method4. The Unity Corporation was organized on January 1, 2022 with authorized share capital consisting of 100,000 preference shares with a par value of P50 and 1,000,000 of no-par ordinary shares with a stated value of P10. At December 31, 2022, the ledger included the following balances: Preference Share Capital P3,000,000 Preference Share Premium 300,000 Ordinary Share Capital 5,000,000 Ordinary Share Capital in Excess of Stated Value- 2,500,000 Ten thousand preference shares were issued for land having a fair value of P550,000. The remaining preference shares were issued for cash. All ordinary shares were issued for cash.Required: Compute for each items enumerated below. Present supporting computation in good form. a. Number of preference shares issued for cash. b. Price per share of preference share capital issued for cash. c. Number of ordinary shares issued. d. Average price per ordinary share capital issued for cash. e. Total preference share premium arising from issuance in exchange for equipment