In previous years, Cox Transport reacquired 2 million treasury shares at $22 per share and, later, 1 million treasury shares at $28 per share. If Cox now sells 2 million treasury shares at $32 per share and determines cost as the weighted-average cost of treasury shares, by what amount will Cox’s paid-in capital—share repurchase increase?

In previous years, Cox Transport reacquired 2 million treasury shares at $22 per share and, later, 1 million treasury shares at $28 per share. If Cox now sells 2 million treasury shares at $32 per share and determines cost as the weighted-average cost of treasury shares, by what amount will Cox’s paid-in capital—share repurchase increase?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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