On December 1, 2016, Buggy Corporation received a donation of 2,000 shares of its P50 par value ordinary shares from a shareholder. On that date, the share's market value was P350 per share. The stock was originally issued for P250 per share. By what amount would this donation cause the total shareholders' equity to decrease? а. Р 700,000 b. P 500,000 с. Р 200,000 d. 0
On December 1, 2016, Buggy Corporation received a donation of 2,000 shares of its P50 par value ordinary shares from a shareholder. On that date, the share's market value was P350 per share. The stock was originally issued for P250 per share. By what amount would this donation cause the total shareholders' equity to decrease? а. Р 700,000 b. P 500,000 с. Р 200,000 d. 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On December 1, 2016, Buggy Corporation
received a donation of 2,000 shares of
its P50 par value ordinary shares from
a shareholder. On that date, the share's
market value was P350 per share. The stock
was originally issued for P250 per share. By
what amount would this donation cause the
total shareholders' equity to decrease?
а. Р 700,000
b. Р 500,000
с. Р 200,000
d. 0
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