Trans Union Corporation issued 6,200 shares for $50 per share in the current yea

Question

Trans Union Corporation issued 6,200 shares for $50 per share in the current year, and it issued 11,200 shares for $37 per share in the following year. The year after that, the company reacquired 21,200 shares of its own stock for $45 per share. Determine the impact (increase, decrease, or no change) of each of these transactions on the following classifications Total Assets Total Liabilities Total Stockholders' Equity Net Income Sold 6,200 shares Sold 11,200 shares Purchased 21,200 shares of treasury stock

Explanation / Answer

Impact of transaction :

Total Assets Total liabilities Total stockholder's equity Net income Sold 6200 Shares 310000 Increase 310000 increase Sold 11200 share 414400 increase 414400 increase Purchased 21200 shares of treasury stock 954000 decrease 954000 decrease

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