Cinders MarketingCinders Marketing Corporation reported thefollowing? stockholders' equity at December 31? (adapted and in?millions):...Cinders...

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Accounting

Cinders MarketingCinders Marketing Corporation reported thefollowing? stockholders' equity at December 31? (adapted and in?millions):
During the next? year, Cinders MarketingCindersMarketingpurchased treasury stock at a cost of $28 million andresold treasury stock for $9 million? (this treasury stock had costCinders MarketingCinders Marketing $3 ?million).
Common stock.................................$281
Additional paid-in capital..................275
Retained Earnings............................2,129
Treasury Stock................................ (611)
Total Stockholders' Equity.................$2,074
1. Record the purchase and resale of CindersMarketing'sCinders Marketing's treasury stock.
2. ?Overall, how much did? stockholders' equityincrease or decrease as a result of the two? treasury-stocktransactions?

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Formula sheetABCDEFGHIJK2314All amounts are in million 5Journal entry for purchase of treasury stock will be asfollows6AccountDebitCredit7Treasury Stock288CashD7910When treasury stock is sold treasury See Answer

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In: AccountingCinders MarketingCinders Marketing Corporation reported thefollowing? stockholders' equity at December 31? (adapted and in?millions):...Cinders MarketingCinders Marketing Corporation reported thefollowing? stockholders' equity at December 31? (adapted and in?millions):During the next? year, Cinders MarketingCindersMarketingpurchased treasury stock at a cost of $28 million andresold treasury stock for $9 million? (this treasury stock had costCinders MarketingCinders Marketing $3 ?million).Common stock.................................$281Additional paid-in capital..................275Retained Earnings............................2,129Treasury Stock................................ (611)Total Stockholders' Equity.................$2,0741. Record the purchase and resale of CindersMarketing'sCinders Marketing's treasury stock.2. ?Overall, how much did? stockholders' equityincrease or decrease as a result of the two? treasury-stocktransactions?