Cinders Marketing Corporation reported the following stockholders equity at December Cinders…
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Cinders Marketing Corporation reported the following stockholders equity at December
Cinders Marketing Corporation reported the following stockholders’ equity at December 31 (adapted and in millions):
Common stock………………………………$ 281
Additional paid-in capital…………………….275
Retained earnings……………………………2,129
Treasury stock………………………………(611)
Total stockholders equity………………….$2,074
During the next year. Cinders Marketing purchased treasury stock at a cost of $28 million and resold treasury stock for $9 million (this treasury stock had cost Cinders Marketing $3 million). Record the purchase and resale of Cinders Marketing’s treasury stock. Overall, how much did stockholders’ equity increase or decrease as a result of the two treasury-stock transactions?
Cinders Marketing Corporation reported the following stockholders equity at December
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