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On December 1, 2012, Mary corporation exchanged 30,000 shares of its $10 per value common stock held in treasury for a used machine. The treasury shares were acquired by Mary 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 fair value of $55 per share (the shares were originally issued at $30 per share). As a result of this exchange, Mary"s total stockholders' equity will increase by what amount?

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Accounting Basics, Accounting

Category:- Accounting Basics
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