In January 2020, Bramble Corp., a newly formed company, issued 11700 shares of its $12 par common stock for $17 per share. On July 1, 2020, Bramble Corp. reacquired 1170 shares of its outstanding stock for $14 per share. The acquisition of these treasury shares decreased total stockholders' equity. did not change total stockholders' equity. increased total stockholders' equity. decreased the number of issued shares.
In January 2020, Bramble Corp., a newly formed company, issued 11700 shares of its $12 par common stock for $17 per share. On July 1, 2020, Bramble Corp. reacquired 1170 shares of its outstanding stock for $14 per share. The acquisition of these treasury shares decreased total stockholders' equity. did not change total stockholders' equity. increased total stockholders' equity. decreased the number of issued shares.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In January 2020, Bramble Corp., a newly formed company, issued 11700 shares of its $12 par common stock for $17 per share. On July 1, 2020, Bramble Corp. reacquired 1170 shares of its outstanding stock for $14 per share. The acquisition of these treasury shares
decreased total stockholders' equity.
did not change total stockholders' equity.
increased total stockholders' equity.
decreased the number of issued shares.
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