Reference no: EM132904475

Question - ABC Corporation has 2 classes of ordinary shares outstanding: 10%, P 50 par preference share and P 20 par ordinary share. During the calendar year ending December 31, 2021, the company had the following share transactions in chronological order:

No. of shares Price per share

a) Issue of ordinary shares for cash 12,000 P 40

b) Issue of ordinary shares under subscription; 20% was collected at the date of subscription 35,000 35

c) Reacquisition of ordinary shares 1,000 42

d) Issue of preference shares for cash 2,000 70

e) Share split for both ordinary and preference shares 2-for-1

f) Reissue of ordinary treasury shares 500 45

Required - How much is total cost of the remaining ordinary treasury shares?