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Weiman Corp. paid $2,500 to repurchase 1,000 common shares. The common share account has an average issue price of $2.80 per share. The company had
Weiman Corp. paid $2,500 to repurchase 1,000 common shares. The common share account has an average issue price of $2.80 per share. The company had sold 2,000 shares in the previous year for $3,000. In recording the repurchase, what amount is used to decrease the Common Shares account?
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Intermediate Accounting Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
12th Canadian Edition
1119497043, 978-1119497042
