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OURCES Question 20 At its date of incorporation, Bonita Industries issued 119000 shares of its $10 par common stock at $12 per share. During the
OURCES Question 20 At its date of incorporation, Bonita Industries issued 119000 shares of its $10 par common stock at $12 per share. During the current year, Bonita acquired 18800 shares of its common stock at a price of $17 per share and accounted for them by the cost method. Subsequently, these shares were reissued at a price of $13 per share. There have been no other issuances or acquisitions of its own common stock. What effect does the reissuance of the stock have on the following accounts? Retained Earnings Additional Paid-in Capital No effect Decrease Decrease Decrease Decrease No effect No effect No effect Click if you would like to show Work for this question: Open Show Work Question Attempts: 0 of 1 used SUBMIT ANSW
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