Reference no: EM132829278

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

Problem 1: How much is total cost of the remaining ordinary treasury shares?