Reference no: EM133072313
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 P86
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
Required - How much is the total contributed capital of ABC Corporation?