Solution-Prepare bm computer company has outstanding share

Prepare bm computer company has outstanding share

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Reference no: EM132462144

BM Computer Company has outstanding 40,000 shares of $5 par common stock which had been issued at $30 per share. BM Computer Company then entered into the following transactions.

point 1. Purchased 5,000 treasury shares at $45 per share.

point 2. Resold 2,000 of the treasury shares at $49 per share.

point 3. Resold 500 of the treasury shares at $40 per share.

Problem 1: Indicate the effect each of the three transactions has on the financial statement categories listed in the table below, assuming BM Computer Company Company uses the cost method.

options

Increase
No Effect
Decrease

Reference no: EM132462144

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Prepare bm computer company has outstanding share

Reference no: EM132462144

Reference no: EM132462144

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