XACC/291CheckPoint-Stocks and Transactions

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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)
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