On December 1, 2017, Dublin Ltd

question 51

Multiple Choice

On December 1, 2017, Dublin Ltd.exchanged 10,000 of its no par value common shares (being held in the treasury) for a used machine.The treasury shares were acquired by Dublin for $35 per share.On the date of the exchange, the common shares, which had originally been issued at $30 per share, had a market value of $55 per share.As a result of this exchange, Dublin's total shareholders' equity will increase by

• A)$300,000.
• B)$350,000.
• C)$400,000.
• D)$550,000.

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Definitions:

Meaningful Narrative

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