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Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372 Exercise 53
Determining the Effects of Stock Issuance and Treasury Stock Transactions
Trans Union Corporation issued 5,000 shares for $50 per share in the current year, and it issued 10.000 shares for $37 per share in the following year. The year after that, the company reacquired 20.000 shares of its own stock for $45 per share. Determine the impact (increase, decrease, or no change) of each of these transactions on the following classifications:
1. Total assets.
2. Total liabilities.
3. Total stockholders' equity.
4. Net income.
Trans Union Corporation issued 5,000 shares for $50 per share in the current year, and it issued 10.000 shares for $37 per share in the following year. The year after that, the company reacquired 20.000 shares of its own stock for $45 per share. Determine the impact (increase, decrease, or no change) of each of these transactions on the following classifications:
1. Total assets.
2. Total liabilities.
3. Total stockholders' equity.
4. Net income.
Explanation
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Issued 5,000 shares for $50 per share in...
Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
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