FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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A corporation purchases 31,000 shares of its own $10 par common stock for $39 per
share, recording it at cost. What will be the effect on total stockholders' equity?
(Round your answer to the nearest whole number - zero decimal places; if this
event causes a decrease in stockholder's equity, enter the amount as a negative
number, if this transaction causes increase in stockholder's equity, enter the answer
as a positive number.)
Your Answer:
Answer
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Transcribed Image Text:A corporation purchases 31,000 shares of its own $10 par common stock for $39 per share, recording it at cost. What will be the effect on total stockholders' equity? (Round your answer to the nearest whole number - zero decimal places; if this event causes a decrease in stockholder's equity, enter the amount as a negative number, if this transaction causes increase in stockholder's equity, enter the answer as a positive number.) Your Answer: Answer
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