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stepladder [879]
3 years ago
13

Lem Co., which accounts for treasury stock under the par value method, acquired 100 shares of its $6 par value common stock for

$10 per share. The shares had originally been issued by Lem for $7 per share. By what amount would Lem's additional paid‐in capital from common stock decrease as a result of the acquisition?
Business
1 answer:
In-s [12.5K]3 years ago
7 0

Answer:

Additional paid in capital decrease by 100 as a result of the acquisition

Explanation:

Treasury Stock 600 (100 shares x $6)

Additional Paid-In Capital 100 (100 shares x $1)

cash 1,000 (100 shares x $10)

Additional Paid-In Treasury Stock 300

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