In previous years, Cox Transport reacquired 3 million treasury shares at $25 per share and, later,...
In previous years, Cox Transport reacquired 3 million treasury
shares at $25 per share and, later, 1 million treasury shares at
$29 per share.
By what amount will Cox’s paid-in capital - share repurchase
increase if Cox now sells 2 million treasury shares at $32 per
share and determines the cost of treasury shares by the FIFO
method? (Enter answer in millions (i.e., 10,000,000 should
be entered as 10).)
Homework Answers
Solution:
Paid in capital share repurchase = sale of treasury shares * (Sale price - Purchase price)
= 2 millions * ($32 - $25)
= $14 millions
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