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Bailey Inc.issues 100,000 shares at $11/ share in January.Later that year the company is able to repurchase 9,000 of these shares at $10 per
Bailey Inc.issues 100,000 shares at $11/ share in January.Later that year the company is able to repurchase 9,000 of these shares at $10 per share. The effect of this is 000 a decrease to the share capital account of $90,000. an increase to the contributed surplus account of $9,000. a decrease to total shareholders' equity of $99,000. an increase in retained earnings by $9,000.
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Horngrens Financial and Managerial Accounting
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
4th Edition
978-0133251241, 9780133427516, 133251241, 013342751X, 978-0133255584
