The treasury shares were acquired by abel at a cost of xx, Ask an Expert

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On December 1, 2010, Abel Corporation exchanged xx,000 shares of its $xx par value common stock held in treasury for a used machine. The treasury shares were acquired by Abel at a cost of $xx per share, and are accounted for under the cost method. On the date of the exchange, the common stock had a market value of $xx per share (the shares were originally issued at $xx 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
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