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How much is the total credit to donated capital

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Question - ANDY CORP. received the following donations during the year 2020:

a) Land from WENCY INC., parent of the entity, with a fair value on the date of transaction amounting to P550,000.

b) 10,000 shares of another entity from a rich entrepreneur. The market value of the shares on that date is P30 per share.

c) Cash of P100,000 from a stockholder owning 20% of the total outstanding shares of the company.

How much is the total credit to donated capital?

Reference no: EM133052669

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