On December 1, 20x1, Line Corp. received a donation of 2,000 shares of its P5 par value ordinary shares from a shareholder. On that date, the stock's market value was P35 per share. The stock was originally issued for P25 per share. By what amount would this donation cause total stockholders' equity to decrease?
On December 1, 20x1, Line Corp. received a donation of 2,000 shares of its P5 par value ordinary shares from a shareholder. On that date, the stock's market value was P35 per share. The stock was originally issued for P25 per share. By what amount would this donation cause total stockholders' equity to decrease?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Refer to the following:
On December 1, 20x1, Line Corp. received a donation of 2,000 shares of its P5 par value ordinary shares
from a shareholder. On that date, the stock's market value was P35 per share. The stock was originally
Issued for P25 per share. By what amount would this donation cause total stockholders equty to
decrease?
20,000
50,000
70,000
The entry to record the issuance of ordinary shares for fully pald share
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