XACC 291 Week 6 CheckPoint - Stocks and Transactions

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CheckPoint
Stocks
and Transactions


Answer each scenario a-d with one of the
choices below:
 
Chen, Inc. purchases 1,000 shares of its
own previously issued $5 per common stock for $12,000. Assuming the shares
are held in the treasury, what effect does this transaction have on (a) net
income, (b) total assets, (c) total paid-in capital, and (d) total
stockholders’ equity?
 
The treasury stock purchased in the above
question was resold by Chen, Inc. for $15,000. What effect does this
transaction have on (a) net income, (b) total assets, (c) total paid-in
capital, and (d) total stockholders’ equity?
 
When working on your Week
Six Checkpoint - Stocks and Transactions, please note that each scenario has questions
lettered a-d.  You will have 2 sets of answers when completed, one for
each scenario.
Please answer each letter
with the following choices

No effect

Decrease

Increase



Make sure you put the appropriate letter with your choice so I will know
which one you are referring to. You are not required to have a word count or
APA format. Any questions please let me know.  There is a template
available that I require you use.
 


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