Question
In previous years, Cox Transport reacquired 2 million treasury shares at $20 per share and, later, 1 million treasury shares at $26 per share.
In previous years, Cox Transport reacquired 2 million treasury shares at $20 per share and, later, 1 million treasury shares at $26 per share. By what amount will Cox's paid-in capital - share repurchase increase if Cox now sells 1 million treasury shares at $27 per share and determines the cost of treasury shares by the FIFO method? (Enter answer in millions (i.e., 10,000,000 should be entered as 10).) O Answer is complete but not entirely correct. Paid-in capital--share repurchase will increase by 24 5 X million
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
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