Horton Industries shareholders equity included 200 million shares of $1 par common stock and a balance in
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Horton Industries’ shareholders’ equity included 200 million shares of $1 par common stock and a balance in paid-in capital - excess of par of $1,600 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 3 million shares at $7.00 per share?
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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