can you help me with accounting questions Brightwave Media had 60,000 outstanding shares, each trading at$30. The company repurchased 6,000 shares at the market price.How does this stock repurchase affect total shareholders' equity,and what will be the new number of outstanding shares?

Step 1: Definition of Stock RepurchaseA stock repurchase, also known as a share buyback, occurs when…

Answered: Brightwave Media had 60,000 outstanding…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The Dunn Corporation is planning to pay dividends of $540000. There are 270000 shares outstanding, and earnings per share are $4. The stock should sell for $48 after the ex-dividend date. If, instead of paying a dividend, the firm decides to repurchase stock,a. What should be the repurchase price? b. How many shares should be repurchased? c. What if the repurchase price is set below or above your suggested price in part a? d. If you own 100 shares, would you prefer that the company pay the dividend or repurchase stock? a. 3/10, net 45 b. 3/15 net 30 c. 3/15 net 60 d.2/10 net 45
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Brightwave Media had 60,000 outstanding shares, each trading at $30. The company repurchased 6,000 shares at the market price. How does this stock repurchase affect total shareholders' equity, and what will be the new number of outstanding shares?