In previous years, Atlas Corporation reacquired treasury shares in two lots: First lot: 4 million shares at $18 per share Second lot: 3 million shares at $24 per share By what amount will Atlas's paid-in capital-share repurchase increase if Atlas now sells 3 million treasury shares at $28 per share using the FIFO method?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter15: Dividend Policy
Section: Chapter Questions
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kindly help me with General accounting question

In previous years, Atlas Corporation reacquired
treasury shares in two lots:
First lot: 4 million shares at $18 per share
Second lot: 3 million shares at $24 per share By
what amount will Atlas's paid-in capital-share
repurchase increase if Atlas now sells 3 million
treasury shares at $28 per share using the FIFO
method?
Transcribed Image Text:In previous years, Atlas Corporation reacquired treasury shares in two lots: First lot: 4 million shares at $18 per share Second lot: 3 million shares at $24 per share By what amount will Atlas's paid-in capital-share repurchase increase if Atlas now sells 3 million treasury shares at $28 per share using the FIFO method?
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