Question: SHORT EXERCISES: JUST ANSWER THE QUESTION/REQUIRED: Problem 2 On April 1, 2022. Caring Corp. a newly formed company. had the following shares issued: Preference shares,

SHORT EXERCISES: JUST ANSWER THE QUESTION/REQUIRED: Problem 2

On April 1, 2022. Caring Corp. a newly formed company. had the following shares issued:

Preference shares, Php 100 par, 6,000 shares originally issued for 160 per share.

Ordinary shares, no par, Php 15 stated value, 20,000 shares originally issued for P35 per share.

Required:

  • The shareholders' equity should report preference shares on April 1, 2022 at:
  • The shareholders' equity should report the share premium - preference on April 1, 2022 at:
  • The shareholders' equity should report the ordinary shares on April 1, 2022 at:
  • The shareholders' equity should report share premium - ordinary on April 1, 2022 at:

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