Trans Union Corporation issued 5,000 shares for $50 per share in the current year, and it issued10,000 shares for $37 per share in the following year. The year after that, the company reacquired20,000 shares of its own stock for $45 per share. Determine the impact (increase, decrease, or nochange) of each of these transactions on the following classifications:1. Total assets.2. Total liabilities.3. Total stockholders’ equity.4. Net income.

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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Trans Union Corporation issued 5,000 shares for $50 per share in the current year, and it issued
10,000 shares for $37 per share in the following year. The year after that, the company reacquired
20,000 shares of its own stock for $45 per share. Determine the impact (increase, decrease, or no
change) of each of these transactions on the following classifications:
1. Total assets.
2. Total liabilities.
3. Total stockholders’ equity.
4. Net income.

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