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Empire Manufacturing Corporation purchased 2,000 shares of its own previously issued $10 par common stock for $46,000. As a result of this event, Empire's Common
Empire Manufacturing Corporation purchased 2,000 shares of its own previously issued $10 par common stock for $46,000. As a result of this event, Empire's Common Stock account decreased $20,000. Empire's total Stockholders Equity decreased $46,000. Empire's Paid-in Capital in Excess of Par Value account decreased $26,000. All of the above
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