Gates Corp. received a donation of 2,000 shares of its P5 par value ordinary shares from a shareholder. On that date, the share's fair value was P35 per share. The share was originally issued for P25 per share. By what amount would this donation cause total shareholders' equity to decrease? P20,000 O P70,000 O P50,000 O PO

Gates Corp. received a donation of 2,000 shares of its P5 par value ordinary shares from a shareholder. On that date, the share's fair value was P35 per share. The share was originally issued for P25 per share. By what amount would this donation cause total shareholders' equity to decrease? P20,000 O P70,000 O P50,000 O PO

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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