In January 2014, Finley Corporation, a newly formed company, issued 10,000 shares of its $10 par common stock for $15 per share. On July 1, 2014, Finley Corporation reacquired 1,000 shares of its outstanding stock for $12 per share. The acquisition of these treasury shares
A) decreased total stockholders' equity.
B) increased total stockholders' equity.
C) did not change total stockholders' equity.
D) decreased the number of issued shares.
Correct Answer:
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Q25: Stockholders' equity is generally classified into two
Q26: When a corporation issues its capital stock
Q27: A "secret reserve" will be created if
A)
Q28: A primary source of stockholders' equity is
A)
Q29: Which of the following represents the total
Q31: Porter Corp. purchased its own par value
Q32: When treasury stock is purchased for more
Q33: Total stockholders' equity represents
A) a claim to
Q34: Treasury shares are shares
A) held as an
Q35: Direct costs incurred to sell stock such
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