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Ayayal Manufacturing Corporation purchased 10000 shares of its own previously issued $1 par common stock for $70000. Use the following tabular analysis to record this
Ayayal Manufacturing Corporation purchased 10000 shares of its own previously issued $1 par common stock for $70000. Use the following tabular analysis to record this event: Assets Liabilities Stockholders' Equity Common Stock Treasury Stock Cash + Revenue Expense - Div. Decrease Cash $70000 and increase Treasury Stock $ 70000. O Decrease Cash $70000 and increase Dividends $70000. Decrease Cash $70000, decrease Common Stock $10000 and increase Expenses $60000. O Decrease Cash $70000 and decrease Common Stock $70000
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