Professional Documents
Culture Documents
1 - Resolve Corporation
Date
Preferred stock
1/31
8/30
Particulars
(Debit) Credit
3,000,000
420,000
12.31.05
Balance
3,420,000
Common stock
1/1
2/20
8/30
8/30
11/07
15,000
90,000
18,000
21,000
60,000
204,000
5/30
11/07
120,000
(60,000)
60,000
Subscription receivable
5/30
11/07
(5,400,000)
4,200,000
(1,200,000)
1/31
1/31
8/30
1,500,000
(225,000)
270,000
1/1
2/20
2/20
5/30
8/30
8/30
Retained earnings
12/01
12/31
(1)
1,545,000
(2)
705,000
3,420,000
(75,000)
5,280,000
702,000
819,000
10,851,000
(3)
(870,000)
1,800,000
930,000
(4)
15,810,000
(5)
1/31
Property
Organization expenses
Common stock (1,500 shares x P10)
APIC - excess over par of common stock
510,000
210,000
4,500,000
5/30
8/30
15,000
705,000
3,000,000
1,500,000
225,000
225,000
3,510,000
90,000
3,420,000
75,000
75,000
5,400,000
120,000
5,280,000
720,000
18,000
702,000
Building
1,530,000
Common stock (2,100 shares x P10)
APIC - excess over par of common [(2,100 sh x P400*)-21,000]
Preferred stock (4,200 shares x P100)
APIC - excess over par of preferred stock (balance)
21,000
819,000
420,000
270,000
4,200,000
4,200,000
60,000
60,000
870,000
342,000
528,000
*
**
* (P3,420,000/P100 x P10)
** {[(P204,000 + P60,000)/P10] x P20}
12/31 Income summary
Retained earnings
1,800,000
1,800,000
AP-5801Q
12.31.04
Preferred stock
Common stock
Additional paid in capital
600,000
1,800,000
300,000
(2)
(1)
(2)
(7)
(7)
198,000
(5)
(9)
2,250,000
(2)
(3)
(5)
(7)
(8)
(9)
(90,000)
(1)
216,000
9,000
54,000
450,000
51,000
60,000
45,000
(270,000)
(57,000)
(60,000)
(501,000)
1,261,500
(45,000)
45,000
5,058,000
12.31.05
600,000
2,016,000
864,000
1
2
3
D
B
B
303,000
2,578,500
(45,000)
6,316,500
Total dividends
(3) Retained earnings - unappropriated
Dividends payable
Preferred stock issued 12/01/05
Treasury shares 12/01/05 (6,000 - 3,000)
Number of shares issued and outstanding
Dividends per share
Total dividends
45,000
9,000
270,000
216,000
54,000
60,000
(6,000)
54,000
5.00
270,000
57,000
57,000
60,000
(3,000)
57,000
1.00
57,000
(4)
(5) Retained earnings - unappropriated
Retained earnings - appropriated
60,000
60,000
501,000
450,000
51,000
1,261,500
1,261,500
1,297,500
(30,000)
(6,000)
1,261,500
45,000
45,000
12.31.04
Preferred stock
4,050,000
Common stock
Additional paid in capital
9,000,000
4,320,000
1,395,000
Treasury stock
1
3
2
1
2
3
6
7
10
3
8
9
10
4
6
810,000
(162,000)
4,725,000
270,000
1,890,000
(43,200)
135,000
243,000
540,000
(37,800)
(1,625,760)
2,520,000
(540,000)
(1,080,000)
540,000
18,765,000
12.31.05
4,698,000
(1)
13,725,000
6,814,800
(2)
(3)
D
D
540,000
1,711,440
(4)
(5)
(540,000)
26,949,240
2)
3)
4)
1,080,000
6,615,000
5)
Memo entry
6)
7)
10)
162,000
43,200
37,800
243,000
1,080,000
1,080,000
675,000
540,000
135,000
243,000
243,000
Retained earnings
Cash
1,625,760
180,000
94,500
(13,500)
261,000
261,000
13,500
(9,000)
4,500
531,000
2
1,062,000
563,760
1,625,760
5) Stock split
6) Reissuance of treasury shares
7) Donated shares
Reissuance of donated sh
Common shares issued and outstanding
x Dividend per share
Dividends to common
Dividends to preferred (PS balance x 12%)
Total
9)
4,725,000
1,890,000
Memo entry
Cash (9,000 shares x 1/2 x P54)
APIC - Donated capital
8)
810,000
270,000
Income summary
Retained earnings
Retained earnings
Retained earnings - appropriated (cost of TS)
1,625,760
2,520,000
2,520,000
540,000
540,000
6.1.04
Preferred stock
2
4
Common stock
2
4
Subscribed PS
1
2
Subsriprions receivable-PS
1
1
2
Subscribed CS
1
2
2
Subsriprions receivable-CS
1
1
2
2
1
2
4
4
5
Retained earnings
3
5
30,000,000
(30,000,000)
2,100,000
3,000,000
30,000,000
(30,000,000)
(31,500,000)
9,450,000
22,050,000
2,250,000
(2,100,000)
(150,000)
(23,400,000)
7,020,000
15,288,000
1,092,000
22,650,000
(1,410,000)
(1,500,000)
28,500,000
100,000
830,000
(4,200,000)
4,200,000
5.31.05
5,100,000
48,340,000
53,440,000
(0)
830,000
54,270,000
31,500,000
23,400,000
30,000,000
2,250,000
22,650,000
Cash
16,470,000
Subscriptions receivable - PS (300,000 x P105 x 30%)
Subscriptions receivable - CS (900,000 x P26 x 30%)
9,450,000
7,020,000
2 Cash
37,338,000
Subscriptions receivable - PS (300,000 x P105 x 70%)
Subscriptions receivable - CS [(900,000-60,000) x P26 x 70%]
22,050,000
15,288,000
30,000,000
2,100,000
30,000,000
2,100,000
1,092,000
468,000
4,200,000
4,200,000
30,000,000
1,500,000
3,000,000
28,500,000
4,300,000
4,200,000
100,000
6 Memo entry.
7 Income summary
Retained earnings
830,000
830,000
4,000,000
1,600,000
1,400,000
3,000,000
7,000,000
40,000
175
Requirement No. 2 - A
Value of the shares to be surrendered (6,000 x P175)
Amount of cash shortage
Amount to be paid to the treasurer
1,050,000
600,000
450,000
Requirement No. 3 - A
Retained earnings before dividends
Dividends to remaining stockholders (value of shares surrendered)
Retained earnings after dividends
3,000,000
(1,050,000)
1,950,000