Blossom Manufacturing Corporation purchased 2600 shares of its own previously issued $10 par common stock for $65000. As aresult of this event,the Common Stock account decreased $26000.O total stockholders' equity decreased $65000.the Paid-in Capital in Excess of Par account decreased $39000.All of these answer choices are correct.

Treasury Stock:Treasury stock is the portion of a company's own stock that it has repurchased from…

Blossom Manufacturing Corporation purchased 2600 shares of its own previously issued $10 par common stock for $65000. As a result of this event, O the Common Stock account decreased $26000. O total stockholders' equity decreased $65000. O the Paid-in Capital in Excess of Par account decreased $39000. All of these answer choices are correct.

Blossom Manufacturing Corporation purchased 2600 shares of its own previously issued $10 par common stock for $65000. As a result of this event, O the Common Stock account decreased $26000. O total stockholders' equity decreased $65000. O the Paid-in Capital in Excess of Par account decreased $39000. All of these answer choices are correct.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Skysong Manufacturing Corporation purchased 2400 shares of its own previously issued $10 par common stock for $57600. As a result of this event, Skysong's Common Stock account decreased $24000. Skysong's total stockholders’ equity decreased $57600. Skysong's Paid-in Capital in Excess of Par Value account decreased $33600. All of these answer choices are correct.
I am having trouble figuring out if I did my calculations correctly for part A and I'm not sure what to do for part B