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Answer with solution and explanation Ordinary share...

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Accounting

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Ordinary share capital, P100 par, 50,000 shares Share Premium Retained Eamings P5,000,000 500,000 2,500,000 Case 1. All the 50,000 shares are called in for cancelation. Instead, 50,000 no-par shares with stated value of P50 are issued. Case 2. All the 50,000 shares are called in for cancelation. Instead, 50,000 no-par shares with stated value of P150 per share are issued

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