Assume that IHOP paid ($ 10) per share to purchase 1,000 of its ($ 1) par common

Question:

Assume that IHOP paid $\$ 10$ per share to purchase 1,000 of its $\$ 1$ par common as treasury stock. The purchase of treasury stock

a. Decreased total equity by $\$ 10,000$

b. Increased total equity by $\$ 1,000$

c. Decreased total equity by $\$ 1,000$

d. Increased total equity by $\$ 10,000$

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