Acquisition of treasury shares

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• Multiple Choice

  The acquisition of these treasury shares a. decreased total stockholders' equity. b. increased total stockholders' equity. c. did not change total stockholders' equity. d. decreased the number of issued shares. 43.

• Messner Co. reported $145,000 of net income for 2010. The ac

  These items are listed below. 1-Messner purchased 100 shares of treasury stock at a cost of $20 per share. These shares were then resold at $25 per share. 2- Messner sold 100 shares of IBM common at $200 per share.

• Landon Corporation Stock Shares

  (b) Sold 90 of the shares of treasury stock at $65 per share. (c) Sold the remaining shares of treasury stock at $50 per share.

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  Troy Corporation reports at the end of 2004. Net Income for 2004 $120,000 Authorized # of shares 60,000; Issued # of shares 40,000; Shares in treasury 10,000 It s earnings per share for 2004 is: (a) $2 (b) $3 (c) $4 2.

• Lee Corporation: Foreign Acquisition Conversion and Change in Owners Equity

  principle $1,000 Shares outstanding 375,940 Shares authorized 500,000 Shares in treasury 30,000 Lee acquired a Canadian subsidiary whose sole asset is a piece of land.

• stock, dividend, investment, pension and tax benefits

  What account(s) should Franco credit in 2004 to record the sale of 8,000 shares? a. Treasury Stock for $192,000 and Retained Earnings for $24,000. b. Treasury Stock for $216,000. c.