In previous years, Cox Transport reacquired 2 million treasury shares at $20 per share and, later, 1 million treasury shares at $26 per share. By what amount will Cox's paid-in capital-share repurchase increase if it now sells 1 million treasury shares at $29 per share and determines the cost of treasury shares by the FIFO method? (Enter answer in millions (i.e., 10,000,000 should be entered as 10).) Paid-in capital-share repurchase will increase by million
In previous years, Cox Transport reacquired 2 million treasury shares at $20 per share and, later, 1 million treasury shares at $26 per share. By what amount will Cox's paid-in capital-share repurchase increase if it now sells 1 million treasury shares at $29 per share and determines the cost of treasury shares by the FIFO method? (Enter answer in millions (i.e., 10,000,000 should be entered as 10).) Paid-in capital-share repurchase will increase by million
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:In previous years, Cox Transport reacquired 2 million treasury shares at $20 per share and, later, 1 million treasury shares at $26 per
share.
By what amount will Cox's paid-in capital-share repurchase increase if it now sells 1 million treasury shares at $29 per share and
determines the cost of treasury shares by the FIFO method? (Enter answer in millions (i.e., 10,000,000 should be entered as 10).)
Paid-in capital-share repurchase will increase by
million
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