Item 10 is based on the following data:

The account below appears in the December 31, 20A trial balance of Metro Cagayan Sales Corporation:

Authorized Common stock 5,000,000

Unissued Common Stock 2,000,000

Additional Pain-In Capital 500,000

Retained Earnings Unappropriated 600,000

Retained Earnings Appropriated 300,000

Treasury Stock at Cost 100,000

10. In its December 31, 20A Balance Sheet, Metro Cagayan Sales Corporation should report total stockholders' equity of -

a) 4,300,000

b) 8,500,000

c) 8,300,000

d) 4,500,000

Item 11 is based on the following data:

Davao Grains, Inc. was organized on January 1, 20A with authorized capital of 100,000 shares at P200 par value common stocks. During 20A, the company had the following transactions affecting stockholders' equity.

March 10 -Issued 25,000 shares at P220 a share

March 25 -Issued 1,000 shares for legal services when the fair market value was P240 a share.

Sept. 17 -Issued 5,000 shares for a tract of land when the fair market value was P250.

11. What amount should Davao Grains, Inc. report for additional paid-in capital at December 31, 20A.

a) 500,000

b) 540,000

c) 800,000

d) 840,000