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On December 2, Coley Corp. reacquired 1,000 shares of its $2 par value common stock for $27 each. On December 20, Coley Corp. reissued 400
On December 2, Coley Corp. reacquired 1,000 shares of its $2 par value common stock for $27 each. On December 20, Coley Corp. reissued 400 shares for $30 each. Which of the following is correct regarding the effect of the reselling of shares on the accounting equation?
1. Assets decrease
2. Stockholders' Equity increases
3. Expenses increase
4. Liabilities decrease
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Primary Science Audit And Test
Authors: Jenny Byrne, Andri Christodoulou, John Sharp
4th Edition
1446282732, 978-1446282731
