Elton Manufacturing Corporation purchased 4,000 shares of its own previously issued $10 par common stock for $92,000. As a result of this event,
A) Elton's Common Stock account decreased $40,000.
B) Elton's total stockholders' equity decreased $92,000.
C) Elton's Paid-in Capital in Excess of Par Value account decreased $52,000.
D) All of the above.
Correct Answer:
Verified
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