Reference no: EM133059292

Question - Below are the accounts shown in the December 31, 2020 trial balance of ABC Corporation:

Preference shares, P50 par, 100,000 authorized, 40,000 shares issued

Ordinary shares, P100 par, 200,000 authorized, 50,000 shares issued

Subscribed preference share, 20,000 shares

Subscribed ordinary shares, 20,000 shares

Subscription receivable, preference due March 31, 2021, P180,000

Subscription receivable, ordinary due June 1, 2021, P260,000

Treasury stock, preference, 10,000 shares reacquired at 86

Share premium - Ordinary shares, P1,500,000

Share premium - Preference shares, P2,100,000

Share premium from Treasury, P400,000

Donated Capital, P600,000

Ordinary share warrants outstanding, P300,000

Ordinary share options outstanding, P200,000

Accumulated Profits, P3,100,000

Revaluation Surplus, P1,500,000

Reserve for plant expansion, P1,200,000

Unrealized Gain on financial asset at FMV through OCI/L, P200,000

How much is the total contributed capital of ABC Corporation?

a. 14,440,000

b. 15,100,000

c. 14,500,000

d. 14,660,000