Conecuh Manufacturing Corporation purchased 8000 shares of its own previously issued $10 par common stock for $184000. As a result of this event

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When a company buys back its own shares, it reduces its total stockholders' equity by the amount paid for those shares. In this case, Conecuh Manufacturing Corporation's total stockholders' equity decreased by $184,000, the amount paid to repurchase the shares. The Common Stock account and the Paid-in Capital in Excess of Par account are not directly affected by the repurchase itself; these accounts reflect the initial issuance of shares, not their repurchase.

Conecuh Manufacturing Corporation Purchased 8000 Shares of Its Own Previously