A corporation reacquires 10000 shares of its own 25 par


A corporation reacquires 10,000 shares of its own $25 par common stock for $450,000, recording it at cost.

(a) What effect does this transaction have on revenue or expense of the period?
(b) What effect does it have on stockholders' equity?

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Financial Accounting: A corporation reacquires 10000 shares of its own 25 par
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