8. When Bradley Corporation incorporated, it was authorized to issue 1,000,000 shares of common stock. It immediately issued 50,000 shares. In 2015, it issued an additional 20,000 shares. In 2018, it repurchased 5,000 shares with the intent of reissuing them. On the Dec. 31,2018, balance sheet, Bradley Corporation would show a. 50,000 shares issued and 45,000 shares outstanding. b. 70,000 shares issued and 65,000 shares outstanding. c. 70,000 shares issued and 70,000 shares outstanding. d. 1,000,000 shares issued and outstanding. 9. On a statement of financial position, treasury stock is shown as a(n) a. Asset. c. deduction from the ordinary shares account. b. Liability. d. deduction from total shareholders' equity. 10. Mizona Corp. Issued 10,000 shares of its P1 par value ordinary shares for a building. The building has a fair value of P500,000. Mizona's ordinary shares is currently selling for P45 per share. Mizona Corp. Should record the building at a. P10,000 c. P450,000 b. 440,000 d. P500,000