XACC/291CheckPoint-Stocks and Transactions
topclassjob (Not rated)
(Not rated)
XACC/291CheckPoint-Stocks and Transactions
Chen, Inc. purchases 1,000 shares of its own previously issued $5 per common stock for $12,000. Assuming the shares are held in the treasury, what effect does this transaction have on (a) net income, (b) total assets, (c) total paid-in capital, and (d) total stockholders’ equity?
The treasury stock purchased in the above question was resold by Chen, Inc. for $15,000. What effect does this transaction have on (a) net income, (b) total assets, (c) total paid-in capital, and (d) total stockholders’ equity?
- 9 years ago
XACC/291CheckPoint-Stocks and Transactions (A++ Answers. 100% correct)
NOT RATED
Purchase the answer to view it
- xacc_291checkpoint-stocks_and_transactions.docx