Answer and explain Ordinary share capital no-par P100 stated...
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Ordinary share capital no-par P100 stated value, 50,000 shares P5,000,000 Retained Earnings Case 1. All the 50,000 shares are called in for cancellation. Instead, 50,000 shares of P50 par value are issued. Case 2. All the 50,000 shares are called in for cancelation. Instead, 50,000 shares of P150 par value are issued. 2,500,000 27. In Case 1, the entry for the change from no par to par would include: A. Debit to Ordinary Share Capital for P5,000,000 B. Credit to Ordinary Share Capital for P250,000 C. Debit to Share Premium-recapitalization for P5,000,000 D. Credit to Share Premium- recapitalization for P1,000,000 28. In Case 2, the entry for the change from no par to par would include: A. Debit to Ordinary Share Capital for P5,000,000 B. Credit to Ordinary Share Capital for P250,000 C. Debit to Share Premium-recapitalization for P5,000,000 D. Credit to Share Premium- recapitalization for P1,000,000
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