Horses Forever Corp. (HFC) exchanged 10,000 of its common shares for equipment with a fair value of $250,000. HFC follows IFRS. At date of issue, HFC's shares were actively trading on the stock market at $25.50. Legal costs directly associated with the share issue were $1,000. The legal fees were accounted for using the offset method. What is the net amount that will be credited to HFC's common share account because of this transaction? a $255,000 b. $254,000 c. $249,000 d. $250,000 QUESTION 19 On June 30, 20X5, Darnell Corp. (DC) had the following shares outstanding: Common shares: 60,000 shares issued and outstanding Preferred shares: 1,000 shares issued and outstanding Total share capital $600,000 100,000 $610,000 DC has never repurchased shares before. As such, it does not have any contributed surplus arising from share repurchases. On July 1, 20X5 DC re purchased 100 common shares on the open market for $14 per share and 100 preferred shares for $95 per share. What is the total balance in Darnell's contributed surplus accounts immediately after these transactions are recorded? a. $500 DR Ob.$100 CR c.$500 CR d. $100 DR