Question 40 2 pts ABC CORPORATION was organized on January 1,2021, with an authorized share capital consisting of 50,000 preference shares, P50 par value, and 1,000,000 no-par value ordinary shares with a stated value of P6. As of March 31, 2021, the ledger showed the following balances: Preference share capital ...................................... P1,000,000 Preference share premium ................................... 240,000 Ordinary share capital, no par ............................... 3,000,000 Ordinary share capital in excess of stated value... 4,760,000 How much is the issue price per share of preference shares? The accounts of ABC Corporation on January 2021 showed the following issues and subscriptions of share capital and its accumulated earnings: 20,000 preference shares at P50 P1,000,000 50,000 ordinary shares at P30 1,500,000 10,000 subscribed ordinary shares 300,000 Accumulated Prot 500,000 In 2021, one of the subscribers for 1,000 ordinary shares with a subscription price of P35 per share defaulted. Delinquent shares were sold at public auction and the highest bidder for 850 ordinary shares paid 60% of the subscription balance. The advertising expenses amounting to P5,500 for the auction sale were advanced by the corporation. Interest that has accrued on the subscription balance amounted to P2,500. How much cash was paid by the highest bidder? The following pertains to ABC Corporation's share capital transactions: Oct 1 Issued 10,000 ordinary shares with P50 par value at P65. Oct 8 Acquired 5,000 ordinary treasury shares with P50 par value at 14 Sold 1,500 ordinary treasury shares at P60 per share. How much is the total Share Premium to be reported by ABC Corporation? The stockholders' equity section of ABC Company revealed the following information on December 31, 2020: Preference shares , P50 par P1,000,000 Share premium =- preference 500,000 Ordinary shares , P20 par 2,000,000 Share premium-ordinary 1,500,000 Subscribed ordinary shares 200,000 Accumulated prots 3,000,000 Subscriptions receivable-ordinary 100,000 How much is the contributed capital? The following pertains to ABC Corporation's treasury share transactions: Reacquired previously issued 6,000 ordinary shares with Nov 3 P50 par value at P45. 25 Reissued 1,500 shares at P40 per share. 30 Reissued another 1,000 shares at P27 per share. How much is the balance of treasury share capital