Pina purchased 2600 shares of its own previously issued $10 par common stock for $70200. As...

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Pina purchased 2600 shares of its own previously issued $10 par common stock for $70200. As...

Pina purchased 2600 shares of its own previously issued $10 par common stock for $70200. As a result of this event,

Pina Common Stock account decreased $26000.

Pina total stockholders’ equity decreased $70200.

Pina Paid-in Capital in Excess of Par Value account decreased $44200.

All of these answer choices are correct.

business accounting

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Answer 1

Answer #1

Option B

Total Stockholder's Equity gets reduced when a company repurchases its own stock.

So, the purchase of treasury stock for 70,200 here will reduce the total stockholders equity by70, 200

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Answer 2

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Pina purchased 2600 shares of its own previously issued $10 par common stock for $70200. As...

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