QUESTION 52 Indicate 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. Reissued the 1,000 shrs. acquired in event above, for $40/shr. O Increase the asset cash $40,000 and stockholders' equity àccounts common stock $40,000 O Increase the asset cash $40,000, and stockholders' equity account additional paid in capital-treasury stock $10,000, increased the stockholders' equity account treasury stock $30,000 thereby increasing stockholders' equity O Increase the asset cash $40,000, stockholders' equity accounts common stock $5,000 and additional paid in capital-commom stock $35,000 O Increase the asset cash $40,000, and stockholders' equity actount additional paid in capital-treasury stock $10,000, decreased the stockholders' equity account treasury stock $30,000 thereby increasing stockholders' equity

QUESTION 52 Indicate 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. Reissued the 1,000 shrs. acquired in event above, for $40/shr. O Increase the asset cash $40,000 and stockholders' equity àccounts common stock $40,000 O Increase the asset cash $40,000, and stockholders' equity account additional paid in capital-treasury stock $10,000, increased the stockholders' equity account treasury stock $30,000 thereby increasing stockholders' equity O Increase the asset cash $40,000, stockholders' equity accounts common stock $5,000 and additional paid in capital-commom stock $35,000 O Increase the asset cash $40,000, and stockholders' equity actount additional paid in capital-treasury stock $10,000, decreased the stockholders' equity account treasury stock $30,000 thereby increasing stockholders' equity

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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