Reference no: EM133042043

Questions -

Q1. Indigo Inc., was organized on January 1, 2017, at which date it issued 200,000 shares of P 10 par Ordinary share capital at P 15 per share. For the period 2017 to 2019, the corporation reported profit of P900,000 and paid cash dividends of P 460,000. On Jan. 1, 2019, the corporation purchased 12,000 of its own share capital at P 12 per share. On Sept. 20, 2019, the company sold 8,000 Treasury shares at P 18 per share. On Oct. 2, 2019, the corporation received 2,000 shares as donation from a major shareholder and were subsequently sold at P 15 per share on Nov. 15, 2019. Compute Total Shareholders' Equity on December 31, 2019?

Q2. Anthor Corporation was incorporated on January 1, 2019 with the following authorized capitalization: 40,000 shares of Ordinary Share capital, P 40 stated value; 10,000 shares of 5% cumulative Preference Share capital, P 10 par value. During 2019, Anthor issued 24,000 shares of Ordinary share capital for a total of P 1,200,000 and 6,000 shares of Preference share capital at P 16 per share. In addition, on Dec. 20, 2019, subscriptions for 2,000 shares of Preference share capital were taken at a subscription price of P 17. These subscribed shares were paid for on January 2, 2020. How much is the total contributed capital of Anthor Corporation to be shown on its Dec. 31, 2019 Statement of Financial Position?