s//newconnect.mheducation.com/flow/connect htm u Biaciboard D SDSU 1 Webpertal z
ID: 2547218 • Letter: S
Question
s//newconnect.mheducation.com/flow/connect htm u Biaciboard D SDSU 1 Webpertal zSan Diego state Un iCloud YouTube Home Isosu ul sosu Blackboard D sosul webportal r san Diego State Un R Rate My Profesors Progressive Renter holders' Equity Horton Industies' shareholders equity included 270 million shares of $1 par common stock and a balance in paid-in capital-excess of par of $2.160 million. Assuming that Horton retires shares it reacquires (restores their status to that of authorized but unissued shares), by what amount will Horton's total paid-in capital decline if it reacquires 5 million shares at $700 per share? (Enter your answer in millions (i.e.. 10,000,000 should be entered as 10)) otal paid-in capital will decine by EmilionExplanation / Answer
Total paid in capital will decline by $35 million i.e.
( 5 million share * $7 per share )
Horton's paid in capital will decline by $35 million i.e. the price paid to buyback the shares.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.