1) Shares issued by Share Broker 120,000 @ 2.30 les 4% brokerage. Legal cost was $6,000. What is the value of equity after this transaction? a) $276,000 b) $264,960 c) $258,960 d) $114,000 e) $11,040 2) 100,000 shares issued to public @ $2.10 per share. $250,000 was received from the public. What is the journal entry for the refund of money. a) Dr Share trust Cr Applications $210,000 b) Dr Applications Cr Share trust $40,000 c) Dr Share trust Cr Applications $250,000 d) Dr Share trust Cr Applications $40,000 e) Dr Bank Cr Contributed equity $40,000 f) Dr Bank Cr Contributed equity $100,000

y13 co formation

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