Joy Inc. repurchases 300 common shares and holds them in treasury on December 1, 2015. Assume the average issue price of the outstanding shares is $10 and that prior to this repurchase the amount of shares issued and outstanding is 2,000 shares. What is the effect on numbers of shares?

Answer rating: 100% (QA)

Heres the breakdown Before repurchase Issued and outstanding shares 2000 After repurchase Joy In... View the full answer