ABC, Inc. Shareholders’ Equity Paid-in capital: Common stock, 300,000 shares at $1.00 par $300,000 Paid-in capital...

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ABC, Inc. Shareholders’ Equity Paid-in capital: Common stock, 300,000 shares at $1.00 par $300,000 Paid-in capital...

ABC, Inc. Shareholders’ Equity
Paid-in capital:
Common stock, 300,000 shares at $1.00 par	$300,000
Paid-in capital in excess of par	600,000
Less: Treasury stock, 50,000 shares at cost	(50,000)
Total shareholders’ equity	$850,000

In Texas, the number of treasury shares owned by the shareholders of ABC, Inc. are:

a. 250,000

b. 300,000

c. 50,000

d. Cannot be determined from the information provided.

e. None of the other choices are correct.

business accounting

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Answer 1

Answer #1

answer : 50000 shares

explanation

if a company repurchase their own stock is called treasury stock . it is also called reacquired stock.it will be recorded in the balance sheet ( contra equity account ) that means it was deducted from the shareholders equity .

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Answer 2

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ABC, Inc. Shareholders’ Equity Paid-in capital: Common stock, 300,000 shares at $1.00 par $300,000 Paid-in capital...

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ABC, Inc. Shareholders’ Equity Paid-in capital: Common stock, 300,000 shares at $1.00 par $300,000 Paid-in capital...

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