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Surfer Girl Clothing Company issues 1,000 shares of $1 par value common stock at $16 per share. Later in the year, the company decides to
Surfer Girl Clothing Company issues 1,000 shares of $1 par value common stock at $16 per share. Later in the year, the company decides to repurchase 100 shares at a cost of $19 per share. Determine the financial statement effects of the repurchase of treasury stock. Note: Amounts to be deducted should be indicated by a minus sign. If there are no effects for a particular transaction/event, select "There are no financial statement effects" in the first account field. Assets Cash Liabilities Balance Sheet Stockholders' Equity Contributed Capital Retained Earnings Treasury Stock Income Statement Revenues Expenses Net Income
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