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RST Incorporated purchased 15,000 shares of its $2 par value common stock on September 23, 2018, for $24 per share. They plan to hold these shares in treasury. RST sold 10,000 of these shares on January 10, 2019, for $22 per share. Which of the following is true regarding the sale on January 10, 2019? Equity increases $220,000. Equity increases $20,000. Equity increases $360,000. Equity increases $240,000.

RST Incorporated purchased 15,000 shares of its $2 par value common stock on September 23, 2018, for $24 per share. They plan to hold these shares in treasury. RST sold 10,000 of these shares on January 10, 2019, for $22 per share. Which of the following is true regarding the sale on January 10, 2019? Equity increases $220,000. Equity increases $20,000. Equity increases $360,000. Equity increases $240,000.

Foundations of Business (MindTap Course List)
Foundations of Business (MindTap Course List)
6th Edition
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Chapter15: Using Management And Accounting Information
Section: Chapter Questions
Problem 4DQ
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RST Incorporated purchased 15,000 shares of its $2 par value common stock on September 23, 2018, for $24 per share. They plan to hold these shares in treasury. RST sold 10,000 of these shares on January 10, 2019, for $22 per share. Which of the following is true regarding the sale on January 10, 2019? Equity increases $220,000. Equity increases $20,000. Equity increases $360,000. Equity increases $240,000.
Transcribed Image Text:RST Incorporated purchased 15,000 shares of its $2 par value common stock on September 23, 2018, for $24 per share. They plan to hold these shares in treasury. RST sold 10,000 of these shares on January 10, 2019, for $22 per share. Which of the following is true regarding the sale on January 10, 2019? Equity increases $220,000. Equity increases $20,000. Equity increases $360,000. Equity increases $240,000.
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