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What is the amount of shareholders equity as of december

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Reference no: EM133024812

Question - My Hero Corp was organized on January 2, 2019, with authorized capital of 100,000 shares of P10 par ordinary share capital. During 2019, My Hero had the following transactions affecting shareholders' equity:

January 7 - Issued 40,000 shares at P12 per share. My Hero paid transaction cost of P30,000

December 2 - Purchased 6,000 treasury shares at P13 per share

Profits for the year amounted to P300,000. What is the amount of shareholders' equity as of December 31, 2019?

A. 720000 B. 702000 C. 592000 D. 672000

Reference no: EM133024812

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