JOURNAL ENTRY

Jan 2. The entity was authorized to issue share capital as follows:

Preference Share capital, no par value with stated valuue of P500 per share, 100,000 shares 50
000 000
Ordinary Share Capital, par value of P10 per share, 25,000,000 shares 250
000 000
Authorized Share Capital 300
000 000

Subscription Receivable- ordinary shares 90 000 000

Subscribed share capital -ordinary shares 75 000 000
Share premium- ordinary shares 15 000 000
#
Cash 67 500 000
Subscription Receivable-ordinary shares 67 500 000
#
Organization Expense 613 580
Cash 613 580
#
Subscription receivable-preference shares 26 775 000
Subscribed share capital-preference shares 25 000 000
Share premium- preference shares 1 775 000
#
Cash 10 465 000
Subscription receivable-preference shares 10 465 000
#
Jan. 5 Subscription receivable - ordinary shares 80 000 000
Share premium- ordinary shares 20 000 000
Subscribed share capital- ordinary shares 100 000 000
#
Cash 80 000 000
Discount on share capital- ordinary shares. 20 000 000
Ordinary share capital 100 000 000
#
Jan. 10 Land 45 000 000
Equipment 7 000 000
Share premium- ordinary shares 500 000
Ordinary share capital 50 000 000
Share premium- ordinary shares 2 500 000
#
Share issuance costs 150 000
Cash 150 000
#
Jan 12 Cash 19 500 000
Subscription receivable- ordinary shares
#
 Subscribed share capital - ordinary shares
Ordinary share capital - ordinary shares
#
Share issuance costs 1500 000
Cash 1500 000
#
Jan. 25 Cash 5512 500
Subscription receivable -preference shares 5512 500
#
Subscribed share capital 13 025 000
Preference share capital 12 500 000
Share premium- preference shares 525 000
#
Share issuance costs 125 000
Cash 125 000
#
Jan 31 NO ENTRY
#
Feb 25 Share issuance cost 150,000
Cash 150 000
#
Feb. 7 NO ENTRY

Feb. 10 Cash 9500 000

Subscription receivable- preference shares 9500 000
#
Subscribed share capital-preference share 9500 000
Preference share capital 9500 000
#
Feb 12 Cash 2525 000
Redeemable Preference Shares 2525 000
#
Cash 1750 000
Redeemable Preference shares 1750 000
#
Preference share capital 765 000

Ordinary share capital 15000

Share premium- ordinary shares 750 000
#
Cash 5250 000
Preference share capital 5000 000
Share warrants outstanding 50 000
Share premium- preference shares 200 000
#
Feb 15 Treasury shares 1800 000
Cash 1800 000
#
 Cash 1800 000
Treasury Shares 800 000
Share premium-treasury shares 1000 000
#
Ordinary share capital 500 000
Share premium-treasury shares 1000 000
Retained earnings- 23 500 000
Treasury shares 25 000 000
#
March 15 Cash
Subscription receivable- ordinary shares
#
Subscribed share capital
Ordinary share capital
#
March 25 Cash 150 000
Share warrants outstanding 50 000
Ordinary share capital 100 000
Share premium- ordinary shares 50 000
#
Aug. 12 Redeemable preference shares 2525 000
Loss on redemption 25 000
Cash 2550 000
#
Nov. 12 Redeemable preference shares 1750 000
Cash 1725 000
Gain on redemption 25 000
#
Preference share capital
Ordinary share capital 150 000
#
Nov. 25 Ordinary share capital 275 000 000
Ordinary share capital 250 000 000
Share premium- recapitalization 25 000 000
#