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What amount would the shareholder equity change

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Problem 1: MIRANA Co. owes P150,000 loan payable to RIKIMARU UNIVERSAL BANK as of June 30, 2014. RIKIMARU accepted 20,000 shares of MIRANA as full payment of the loan. At this date the shares are selling at P6 per share. The share has P5 par value based on the share records. By what amount would the shareholder's equity change as a result of the issuance of shares to RIKIMARU.

a. P150,000 decrease
b. P100,000 increase
c. P120,000 decrease
d. P120,000 increase

Reference no: EM132813172

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