Total stockholders equity will increase by what amount


On December 1, 2012, Mary corporation exchanged 30,000 shares of its $10 per value common stock held in treasury for a used machine. The treasury shares were acquired by Mary at a cost of $40 per share, and are accounted for under the cost method. On the date of the exchange, the common stock had a fair value of $55 per share (the shares were originally issued at $30 per share). As a result of this exchange, Mary"s total stockholders' equity will increase by what amount?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Total stockholders equity will increase by what amount
Reference No:- TGS041592

Expected delivery within 24 Hours