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Emma, Inc.

Paid-in-capital; shares repurchase decline

Please answer correctly, promptly, and show all work.

Question 1 0 out of 0.5 points Emma, Inc. reacquired 166,746 of its shares at $23 per share as treasury stock. Last year, for

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Answer #1

Purchase price of treasury stock purchased = $23.

When some shares are sold at $30 (higher than 23), it increases the paid in capital - Treasury stock account by (30-23)*39,376 = 275,632

Now these shares are sold at $18.

So there will be a decline in paid in capital - Treasury stock

= (23-18)*43,458

= 217,290

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