On december 1, 20x4, line corp. Received a donation of 2,000 shares of its $5 par value common stock from a stockholder. On that date, the stock's market value was $35 per share. The stock was originally issued for $25 per share. By what amount would this donation cause total stockholders' equity to decrease
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Answer:
sry buddy I don't know..
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Step-by-step explanation:
0 decrease in total stockholders' equity due to donation of its own stock from a stockholder because there is no cost to the corporation. The entry would be:
Debit (Dr) Credit (Cr)
Donated treasury stock (@ FMV) $ XX
Additional paid-in capital (@ FMV) $ XX
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