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Kwun inc purchases 1000 shares of its own previously issued

1. Kwun, Inc. purchases 1,000 shares of its own previously issued $5 par common stock for $12,000. Assuming the shares are held in the treasury, what effect does this transaction have on

(a) Net income,

(b) Total assets,

(d) Total stockholders' equity?

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Accounting Basics: Kwun inc purchases 1000 shares of its own previously issued

Reference No:- TGS01516352

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Accounting Basics: Kwun inc purchases 1000 shares of its own previously issued

Reference No:- TGS01516352

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