The treasury stock in Discussion Question 6 is resold for
The treasury stock in Discussion Question 6 is resold for $3,750,000.
In Discussion Question 6, A corporation reacquires 60,000 shares of its own $10 par common stock for $3,000,000, recording it at cost.

a. What is the effect on the corporation's revenue of the period?
b. What is the effect on stockholders' equity?

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