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A corporation purchases 33000 shares of its own $20 par common stock for $40 per share, recording it at cost. What will be the effect
A corporation purchases 33000 shares of its own $20 par common stock for $40 per share, recording it at cost. What will be the effect on total stockholders equity?
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A. Decrease by $660000.
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B. Increase by $660000
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C. Decrease by $1320000.
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D. Increase by $1320000.
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