Reference no: EM132466958
Problem 1: The Max Corporation is authorized to issue 100,000 shares at P20 par ordinary share. At the beginning of 2014, 18,000 ordinary shares were issued and outstanding. These shares had been issued at P27 per share. During 2014, the company entered into the ff transactions:
January 2 Issued 1,300 ordinary shares at P28 per share
Mar 19 Exchanged 12,000 ordinary shares for a machine The ordinary share was selling at P30 per share.
May 8 Reacquired 500 ordinary shares at P29 per share
July 19 Accepted subscriptions for 1,000 ordinary shares at P31 per share. The contract called for 10% down payment with the balance due on December 1.
September 1 Sold 500 of treasury share at P32 per share
December 1 Collected the balance due on July 1 subscriptions and issued the stock certififcate.
Question 1: How much is the total contributed capital for December 31, 2014
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