1.

Solution:
Requirement (a):
May 9, Share capital (4,000 x ₱100 par) 400,000
20x1 Share premium – original issuance  80,000
(320K x 4,000/16,000 issued shares)
          Cash (4,000 x ₱80)
320,000
            Share premium – retirement 
160,000

Requirement (b):
May 9, Share capital (1,000 x ₱100) 400,000
20x1 Share premium – original issuance  80,000
(320K x 4,000/16,000 issued shares)
(a) Share premium – treasury shares 10,000
(b) Retained earnings (balancing 70,000
figure)
          Cash (4,000 x ₱140) 560,000
s

2. Solution:
Sept 1, 20x1 No entry (memo only)
Sept. 21, 20x1 Cash (30,000 x ₱60) 1,800,000
      Ordinary share capital (30,000 x ₱50) 1,500,000
      Share premium – Ordinary share  300,000
Sept. 30, 20x1 No entry (memo only)

3. Solution:
May 21, Cash  200,000
20x1     Share premium – donated capital 200,000
July 5, 20x1 No entry (memo only)
July 20, 20x1 Land 1,000,000
    Share premium – donated capital 1,000,000
Dec. 19, Cash (1,000 x ₱260) 260,000
20x1     Share premium – donated capital 260,000