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In previous years, Cox Transport reacquired 4 million treasury shares at $ 22 per share and, later, 2 million treasury shares at $ 28 per share. By what amount will Cox's paid - in capital - share repurchase increase if Cox now sells 3 million treasury shares at $ 30 per share and determines the cost of treasury shares by the FIFO method ?

In previous years, Cox Transport reacquired 4 million treasury shares at $ 22 per share and, later, 2 million treasury shares at $ 28 per share. By what amount will Cox's paid - in capital - share repurchase increase if Cox now sells 3 million treasury shares at $ 30 per share and determines the cost of treasury shares by the FIFO method ?

FINANCIAL ACCOUNTING
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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In previous years, Cox Transport reacquired 4 million treasury shares at $ 22 per share and, later, 2 million treasury shares at $ 28 per share. By what amount will Cox's paid - in capital - share repurchase increase if Cox now sells 3 million treasury shares at $ 30 per share and determines the cost of treasury shares by the FIFO method ?
Transcribed Image Text:In previous years, Cox Transport reacquired 4 million treasury shares at $ 22 per share and, later, 2 million treasury shares at $ 28 per share. By what amount will Cox's paid - in capital - share repurchase increase if Cox now sells 3 million treasury shares at $ 30 per share and determines the cost of treasury shares by the FIFO method ?
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