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How much is the balance of entity a total shareholder equity

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Reference no: EM132718345

Entity A's total shareholder's equity was $900,000 before recording the following share transactions:

  • Received cash subscriptions for 10,000 shares with par value of $1 at $14 per share. Share issuance cost amounted to $2,000
  • Received subscription for 20,000 shares at $20 per share. Twenty-five percent down payment was collected on subscription date.
  • Collected the remaining unpaid subscription price of 15,000 subscribed shares and issued the related share certificates. Share issuance cost amounted to $3,000

Problem 1: How much is the balance of Entity A's total shareholder's equity after recording the transaction above? (Hint: preparing journal entries makes this problem easier to solve)

A. 1,490,000

B. 1,510,000

C. 1,360,000

D. 1,610,000

Reference no: EM132718345

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