Abel corporation exchanged 20000 shares of its 10 par value, Ask an Expert

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Abel corporation exchanged 20,000 shares of its $10 par value common stock held in treasury for a used machine. Treasury shares were acquired by Abel at a cost of $40 per share and are accounted for under the cost method. On the date of the?exchange, the common stock had a market value of $55 per share. As a result of this exchange, Abel's total stockholders' equity will increase by?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9973718

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