On January 1, 2013, Proven Technology Corporation's Common Shares Account

question 66

Multiple Choice

On January 1, 2013, Proven Technology Corporation's common shares account had a balance of $250,000, representing 25,000 shares issued at $10 per share. On May 15, 2013, 12,000 shares were issued for $150,000 cash. On August 31, 2013, a 10% stock dividend was declared and distributed. What is the balance in Common Shares appearing on the statement of shareholders' equity on December 31, 2013?

• A) $440,000
• B) $300,000
• C) $400,000
• D) $415,000

---

Definitions:

Employment Equity Act

Law that requires employers in Canada to eliminate barriers to and increase the hiring of women, people with disabilities, Aboriginal people, and visible minorities.

Proactive Employment

An approach to job seeking and career development where individuals take initiative to find and secure employment opportunities, rather than reacting to vacancies.

Designated Groups

Refers to specific groups identified for targeted equity or affirmative action programs, often to address historical disadvantages or underrepresentation in certain areas.

Hyphenated Identities

Describes individuals who integrate their heritage, nationality, or culture with their identity through a hyphenated designation (e.g., African-American).