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A. The Eric Corporation was organized early in Year 1. Authorization was obtained to issue 100,000 shares of P10 par value ordinary share capital and 20,000 shares of P100 par, 10% cumulative preference share capital. All the preference shares were issued at par and 80,000 ordinary shares were sold for P15 per share. During the first five years of operations, the corporation earned a total of P3,600,000 and paid annual dividends of P2 per ordinary share. 1. What amount of total dividends was paid each year? 2. How much was the retained earnings at the end of the fifth year? 3. How much was the total shareholders' equity at the end of the fifth year? B. David Corporation had the following shareholders' equity accounts before the declaration of bonus issue: Ordinary Share Capital, P100 par, 20,000 shares issued and outstanding P2,000,000 Share Premium - Ordinary 100,000 Retained Earnings 1,000,000 The fair value of the ordinary share on this date is P150 per share. 4. Assuming that a 10% bonus issue was declared, what was the amount of retained earnings capitalized? 5. Assuming that a 20% bonus issue was declared and distributed, what was the total contributed capital after the distribution of the bonus issue? 6. Assuming that a 20% bonus issue was declared, what was the total shareholders' equity after the distribution of the bonus issue?C. At the beginning of 2021, Escudero Company had retained earnings of P100,000. During the year, Escudero reported profit of P50,000; sold treasury shares at a gain of P18,000; declared cash dividends of P30,000; and declared and distributed a bonus issue of 1,500 shares (P10 par value, when the market price was P20 per share; outstanding shares were 15,000). 7. What is the amount of Retained Earnings at December 31, 2021? D. Cayetano Company has 15,000 ordinary shares authorized with a par value of P30 per share of which 6,000 shares were outstanding. The company authorized a bonus issue when the market value was P80 per share, entitling its shareholders to one additional share for each share held. 8. What is the amount charged to Retained Earnings as a result of this bonus issue? E. The shareholders' equity section of Chua Company as of December 31, 2020 has the following balances: Ordinary Share Capital, 25,000 shares authorized; 10,000 shares issued and outstanding P300,000 Share Premium 400,000 Retained Earnings 800,000 Chua's board of directors declared a 10% bonus issue on March 31, 2021, when the market value of each share was P70. Accordingly, 1,000 new shares were issued. For the first three months of 2021, Chua sustained a net loss of P150,000. 9. What is the balance of Chua's retained earnings at March 31, 2021 interim statement of financial position?F. . In 2020, Beck Corporation reacquired 6,000 shares of its P1 par value ordinary share capital at P36 per share. During 2021, Beck issued 4,000 of these shares at P45 per share. Beck uses the cost method to account for its treasury shares. 10. What accounts and amounts should Beck Corporation credit to record the issuance of the 4,000 shares? G. The following capital accounts are shown in the statement of financial position of Bick Corporation: Ordinary Share Capital, P100 par, 1,000 shares Share Premium - Ordinary Share P100,000 Share Premium - Treasury Shares 2,000 Retained Earnings 3,000 75,000 Treasury Shares, 200 shares at cost 25,000 The whole 200 treasury shares were sold for P20,000. 11. What amount, if any, should be charged to retained earnings account upon sale of the 200 treasury shares? H. On July 1, 2021, Mack Corporation was registered with the Securities and Exchange Commission. Its authorized share capital consists of 1,000,000 ordinary shares with par value of P20 per share. On July 15, 2021, it issued 100,000 shares at P23 per share. On October 15, 2021, Mack paid to the majority shareholders the sum of P800,000 and issued 50,000 shares of its ordinary share capital in exchange for land and building. The land was appraised at P.1,300,000. The building had an original cost of P1,500,000 and its depreciated value is P900,000. It was appraised at P1,200,000. On October 15, 2021, the corporation purchased 5,000 shares of its own ordinary share capital for P110,000. On December 15, 2021, 2,000 of its treasury shares were sold for P25 per share. 12. How much is the additional paid in capital of Mack Corporation on December 31, 2021?The shareholders' equity of Tack Corporation as of January 1, 2021 is as follows: Ordinary Share Capital, P20 par, 200,000 shares authorized; 120,000 shares issued and P2,400,000 outstanding Share Premium Retained Earnings 280,000 1,540,000 Tack recorded the following transactions during 2021: (a) Acquired 2,000 shares of its ordinary share capital for P70,000. ( b ) Sold 1,200 treasury shares at P42 per share. (c) Retired the remaining treasury shares. 13. Assuming no other equity transactions occurred during 2021, what should Tack report at December 31, 2021 as additional paid in capital? Deck Corporation was organized on January 1, 2019, at which date it issued 100,000 shares of P10 par ordinary shares at P15 per share. During the period January 1, 2019 through December 31, 2021, Deck reported profit of P450,000 and paid cash dividends of P230,000. On October 31, 2021, Deck purchased 6,000 ordinary shares at P12 per share. On December 31, 2021, it sold 4,000 treasury shares at P8 per share. 14. What is Deck's total shareholders' equity at December 31, 2021? K. Zack, Inc. was organized on January 1, 2021 with authorized share capital of 500,000, P10 par value ordinary shares. During 2021, Zack issued 10,000 shares at P14 each, purchased 1,000 treasury shares at P13 per share, and subsequently sold 800 of treasury shares at P15 per share and 200 shares at P10 per share. 15. What is the total amount of additional paid in capital at December 31, 2021? 16. What is the balance of Ordinary Share Capital as of December 31, 2021?17. Assume that Retained Earnings had a balance of P150,000 as of December 31, 2021, what is the total shareholders' equity as of December 31, 2021? Dack Corporation