Answered: When a company buys shares of its own…

When a company buys shares of its own stock to be held in treasury, it records a reduction in: B . both assets and shareholders’ equity.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter20: Corporations: Organization And Capital Stock

Section: Chapter Questions

Problem 5MC: Treasury stock is listed as a(n) __________ on the balance sheet. (a) current liability (b) current...

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When a company buys shares of its own stock to be held in treasury, it records a reduction in: B . both assets and shareholders’ equity.

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