Reese Co. issued 10,000 shares of common stock for $20 cash per share on January...
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Accounting
Reese Co. issued 10,000 shares of common stock for $20 cash per share on January 1st. Then, on March 31st it repurchased 5,000 of these common shares to hold as treasury stock at $25 per share. The net effect on the financial statements from both transactions includes:
Select one:
a. Liabilities increases by $75,000
b. Stockholder's equity increases by $75,000
c. Stockholder's equity decreases by $200,000
d. Assets increase by $200,000
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