Concord Corporation has the following shareholders'equity on December 31, 2021: Shareholders' equity Share capital $10 convertible preferred shares. 10,000 shares authorized, 4600 shares issued $573000 Common shares 200.000 shares authorized, 70000 shares issued 1750000 2323000 Total share capital Retained earnings 454000 $2777000 Total shareholders' equity I 9800 common shares were reacquired for $26 per share, the journal entry to record the transaction would O debit Common Shares for $245000. O credit Contributed Surplus-Reacquisition of Shares for $9800o. O credit Retained Earnings for $9800. O credit Common Shares for $254800.

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Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.