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How much is the net increase in the shareholders equity

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Reference no: EM132831693

Question - The following transactions were taken from NCT Company:

Authorized Share capital is 500,000 shares at $10 par per share.

Total Subscriptions of equity share is 150,000 shares at subscription price of $12 per share

Two-thirds of total subscription were full paid and issued Share Certificate.

The balance of total subscriptions has $340,000 outstanding receivable.

Required - How much is the net increase in the Shareholders' Equity of the above transactions?

a. 1,460,000

b. 1,800,000

c. 1,200,000

d. 1,440,000

Reference no: EM132831693

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