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SwiftyManufacturing Corporation purchased 5500 shares of its own previously issued $10 par common stock for $120000. As a result of this event, Swifty's Common
SwiftyManufacturing Corporation purchased 5500 shares of its own previously issued $10 par common stock for $120000. As a result of this event, Swifty's Common Stock account decreased $55000. Swifty's total stockholders' equity decreased $120000. Swifty's Paid-in Capital in Excess of Par account decreased $65000. O All of these answer choices are correct.
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International Accounting
Authors: Timothy Doupnik, Hector Perera
4th edition
77862201, 978-0077760298, 77760298, 978-0077862206
