Reference no: EM132558070

The following data pertain to WXY Corp.

Ordinary Share Capital, with a par value of P100 20,000 shares issued and outstanding......................P2,000,000

Ordinary Share Premium........................................... 50,000

Paid in Capital from Treasury shares........................... 1,500

Share Premium from stock retirement......................... 1,000

Retained Earnings................................................... 1,400,000

The following transactions took place:

June 10 - Reacquired 2,000 share at P110 per share

15 - Retired 500 from the treasury shares

20 - 500 treasury shares were sold for P90 per share

25 - 500 treasury shares were at P37,500

30 - The remaining treasury shares were restricted under the title "Appropriation Reserved for Treasury Shares"

Question 1. Prepare Journal Entries

Question 2. Compute the total number of shares entitled to dividends