S10-8. (Learning Objective 3: Account for the purchase and sale of treasury stock) Sanja Marketing...
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Accounting
S10-8. (Learning Objective 3: Account for the purchase and sale of treasury stock) Sanja Marketing Corporation reported the following stockholders equity at December 31 (adapted and in millions): During the next year, Sanja Marketing purchased treasury stock at a cost of $34 million and resold treasury stock for $15 million (this treasury stock had cost Sanja Marketing $6 million). Record the purchase and resale of Sanja Marketings treasury stock. Overall, how much did stockholders equity increase or decrease as a result of the two treasury-stock transactions?
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