At its date of incorporation, Emm Inc.sold 100,000 of its $10 par common shares at $11 per share.During the current year, Emm acquired 20,000 of these common shares at $16 per share to hold as treasury shares.Subsequently, these shares were sold at $12 per share.Emm has had no other sales or acquisitions of its common shares.What effect does the sale of the treasury shares have on the following accounts?

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The Answer of At its date of incorporation, Emm Inc.sold 100,000 of its $10 par common shares at $11 per share.During the current year, Emm acquired 20,000 of these common shares at $16 per share to hold as treasury shares.Subsequently, these shares were sold at $12 per share.Emm has had no other sales or acquisitions of its common shares.What effect does the sale of the treasury shares have on the following accounts?

At Its Date of Incorporation, Emm Inc