Paid cash to reacquire 1,000 shrs. of common stock for $30/shr.O Decreased the asset cash $30,000, the stockholders' equity accounts common stock $5,000 and additional paid in capital-common $25,000.O Decreased the asset cash $30,000, the stockholders' equity account treasury stock $30,000.Decreased the asset cash $30,000, and increaséd the stockholders' equity account treasury stock thereby decreasing total stockholders' equity $30,000.O Increased the asset cash $30,000, the stockholders' equity account treasury stock $30,000.QUESTION 51Indicate the effect of the following event on the company's accounting equation. For each account title affected indicate the specific account name, dollar change,and whether it increased or decreased. Show the correct effect in the Stockholders' Equity column so the Balance Sheet balances..Paid the cash dividend declared in event above.O Decreased the asset cash and increased dividends expense, thereby decreasing the stockholders' equity retained earnings $108,000O Decreased the asset cash and liability dividends payable $108,000O Decreased the asset cash and Increased the liability dividends payable $108,000O Increased the asset cash and decreased the liability dividends payable $108,000

Name: Paid cash to reacquire 1,000 shrs. of common stock for $30/shr.O Decr
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Description: Paid cash to reacquire 1,000 shrs. of common stock for $30/shr.O Decreased the asset cash $30,000, the stockholders' equity accounts common stock $5,000 and additional paid in capital-common $25,000.O Decreased the asset cash $30,000, the stockholde

Treasury stock refers to the shares that is bought back from shareholders which was previously held…

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Paid cash to reacquire 1,000 shrs. of common stock for $30/shr. O Decreased the asset cash $30,000, the stockholders' equity accounts common stock $5,000 and additional paid in capital-common $25,000. O Decreased the asset cash $30,000, the stockholders' equity account treasury stock $30,000. O Decreased the asset cash $30,000, and increaséd the stockholders' equity account treasury stock thereby decreasing total stockholders' equity $30,000. O Increased the asset cash $30,000, the stockholders' equity account treasury stock $30,000.

Paid cash to reacquire 1,000 shrs. of common stock for $30/shr. O Decreased the asset cash $30,000, the stockholders' equity accounts common stock $5,000 and additional paid in capital-common $25,000. O Decreased the asset cash $30,000, the stockholders' equity account treasury stock $30,000. O Decreased the asset cash $30,000, and increaséd the stockholders' equity account treasury stock thereby decreasing total stockholders' equity $30,000. O Increased the asset cash $30,000, the stockholders' equity account treasury stock $30,000.

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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H2. Account
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7. Book value per share 8. Working capital
true or false.d. Issuing 1,000 shares of $5 par-value stock at $12 increases contributed capital by $12,000.
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