8:55 .LTED Assignment Details ACC 110 - B2-ONL - Financial Accounting II Description Discussion Question 1. A corporation reacquires 60,000 shares of its own $10 par common stock for $3,000,000, recording it at cost. 1. What effect does this transaction have on revenue or expense of the period? 2. What effect does it have on stockholders' equity? Discussion Question 2. The treasury stock in Discussion Question 1 is resold for $3,750,000. 1. What is the effect on the corporation's revenue of the period? 2. What is the effect on stockholders' equity? View Discussion Dashboard Calendar To Do Notifications Inbox