Under GAAP, a purchase by a company of its own shares is recorded by

Name: Under GAAP, a purchase by a company of its own shares is recorded by
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Under GAAP, the purchase of a company's own shares is recorded as an increase in Treasury Stock, which is a contra equity account. This account is subtracted from the total stockholders' equity when calculating the total equity amount on the balance sheet. There is no impact on accumulated comprehensive income or retained earnings as a result of the purchase.

Under GAAP, a Purchase by a Company of Its Own