On December 1, 2019, Bobcat Corporation received a donation of 2,000 shares with P 50 par value from a shareholder.  On that date, the share market value was P 350.  The shares were originally issued for P 250 per share.  By what amount would this donation cause shareholder’s equity to decrease?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On December 1, 2019, Bobcat Corporation received a donation of 2,000 shares with P 50 par value from a shareholder.  On that date, the share market value was P 350.  The shares were originally issued for P 250 per share.  By what amount would this donation cause shareholder’s equity to decrease?

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