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Par Value Common Stock

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Combs Company purchased back 11,00 shares of their $8 par value common stock for $98,000 on May 1 2011. On August 1, 2011, they reissued those shares for $109,000. Please show the effect of both transactions on the accounting equation.

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Solution Summary

This solution illustrates how to record treasury stock transactions using the accounting equation.

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Assets = Liabilities + Stockholders' equity

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