The Corazon Corporation is authorized to issue 100,000 shares at P20 par ordinary shares. At the beginning of 2020, 18,000 ordinary shares were issued and outstanding. These shares had been issued at P27 per share. During 2020, the company entered into the following transactions: January 4 Issued 1,300 ordinary shares at P28 per share. March 19 Exchanged 12.000 ordinary shares for a machine. The ordinary share was selling at P30 per share. May 9 Reacquired ordinary shares at P29 per share. July 19 Accepted subscriptions for 1,000 ordinary shares at P31 per share. The contract called for 10% down payment with the balance due on December 1. September 4 Sold 500 of treasury shares at P32 per share. December Collected the balance due on July 19 subscriptions and issued the stock certificate. How much is the total contributed capital for December 31, 2020
The Corazon Corporation is authorized to issue 100,000 shares at P20 par ordinary shares. At the beginning of 2020, 18,000 ordinary shares were issued and outstanding. These shares had been issued at P27 per share. During 2020, the company entered into the following transactions: January 4 Issued 1,300 ordinary shares at P28 per share. March 19 Exchanged 12.000 ordinary shares for a machine. The ordinary share was selling at P30 per share. May 9 Reacquired ordinary shares at P29 per share. July 19 Accepted subscriptions for 1,000 ordinary shares at P31 per share. The contract called for 10% down payment with the balance due on December 1. September 4 Sold 500 of treasury shares at P32 per share. December Collected the balance due on July 19 subscriptions and issued the stock certificate. How much is the total contributed capital for December 31, 2020
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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29. The Corazon Corporation is authorized to issue 100,000 shares at P20 par ordinary shares. At the
beginning of 2020, 18,000 ordinary shares were issued and outstanding. These shares had been issued
at P27 per share. During 2020, the company entered into the following transactions:
January 4
Issued 1,300 ordinary shares at P28 per share.
March 19
Exchanged 12.000 ordinary shares for a machine. The ordinary share was selling at P30
per share.
May 9
Reacquired ordinary shares at P29 per share.
July 19
Accepted subscriptions for 1,000 ordinary shares at P31 per share. The contract called
for 10% down payment with the balance due on December 1.
September 4 Sold 500 of treasury shares at P32 per share.
December Collected the balance due on July 19 subscriptions and issued the stock certificate.
How much is the total contributed capital for December 31, 20202
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