Question: Horton Industries shareholders equity included 100 million sha

Horton Industries' shareholders' equity included 100 million shares of $1 par common stock and a balance in paid-in capital—excess of par of $900 million. Assuming that Horton retires shares it reacquires (restores their status to that of authorized but unissued shares), by what amount will Horton's total paid-in capital decline if it reacquires 2 million shares at $8.50 per share?

Sale on SolutionInn
  • CreatedJuly 05, 2013
  • Files Included
Post your question