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Income tax 2 When incorporated X Ltd. issued 2,000 common shares to A for $2,000. In year 2. X Ltd. issued 1600 additional common shares

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Income tax 2

When incorporated X Ltd. issued 2,000 common shares to A for $2,000. In year 2. X Ltd. issued 1600 additional common shares to 8 for $16,000, the market value of the shares at that date. What is the paid-up capital (PUC) of the total 3,600 issued common shares at the end of year 2

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