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On December 1, 20x1, Line Corp. received a donation of 2,000 shares of its P5 par value ordinary shares Irom a shareholder. On that date, the slock'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? 50,000 20,000 70,000

On December 1, 20x1, Line Corp. received a donation of 2,000 shares of its P5 par value ordinary shares Irom a shareholder. On that date, the slock'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? 50,000 20,000 70,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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140,000 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 stocks.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? 50,000 O 20,000 O 70,000
Transcribed Image Text:140,000 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 stocks.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? 50,000 O 20,000 O 70,000
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