During the year, 10 shares were reacquired at $11 per share. How much is the total stockholders' equity after the treasury stock transaction, assuming the company accounts for treasury stock under the cost method?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Presented below is information related to a company at the beginning of the year:

Common Stock, $10 par                                          $6,700

Retained Earnings                                                      4,700

 

During the year, 10 shares were reacquired at $11 per share. How much is the total stockholders' equity after the treasury stock transaction, assuming the company accounts for treasury stock under the cost method?

 

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