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A corporation purchases 60,000 shares of its own $30 par common stock for $45 per share, recording it at cost. What will be the effect
A corporation purchases 60,000 shares of its own $30 par common stock for $45 per share, recording it at cost. What will be the effect on total stockholders equity?
| Decrease by $2,700,000 |
| Increase by $1,800,000 |
| Increase by $2,700,000 |
| Decrease by $1,800,000 |
What is the answer and why???
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Surviving An IRS Tax Audit
Authors: Frederick W. Daily
3rd Edition
1413318649, 978-1413318647
