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Chen, Inc. purchases 1,000 shares $5 per common stock for $12,000

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Chen, Inc. purchases 1,000 shares of its own previously issued $5 per 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, (c) total paid-in capital, and (d) total stockholders’ equity?
The treasury stock purchased in the above question was resold by Chen, Inc. for $15,000. What effect does this transaction have on (a) net income, (b) total assets, (c) total paid-in capital, and (d) total stockholders’ equity?

Chen, Inc. purchases 1,000 shares of its own previously issued $5 per common stock for $12,000. Assuming the shares are held in the treasury, what effect does this transaction have on (a) net incomeNo change

(b) total assets.Will decrease by $12000

(c) total paid-in capital. No change

(d) total stockholders’ equity?.Will decrease by $12000

The treasury stock purchased in the above question was resold by Chen, Inc. for $15,000. What effect does this transaction have on

(a) net income No change

(b) total assets.Will increase by $15000

(c) total paid-in capital- will increase by $3000

and (d) total stockholders’ equity?.Will increase by $15000

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