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How much is the total shareholders equity

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Reference no: EM133033022

Question - Academia Corp. was incorporated on June 1, 2019 with an authorized 250,000 share of no-par ordinary share capital, stated value P20 and 10,000 shares of 10% preference share capital, par value P45. Transactions affecting company's share capital as of June 30, 2019 were as follows:

June 1 - Issued 40,000 ordinary shares for cash at P25 per share

June 5 - Issued 50,000 ordinary shares in exchange for assets with total market value of P1,200,000

June 15 - Received subscriptions for 100,000 ordinary shares at P28 and 5,000 preference shares at P52

June 25 - Received full payment for subscriptions received on June 15 and the corresponding stock were issued

Required - How much is the total shareholders' equity?

A. 1235000 B. 4025000 C. 5260000 D. 4925000

Reference no: EM133033022

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