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Laoeli Corporation purchased 12,500 shares of treasury stock at $30 per share. The stock had...

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Question

Accounting

Laoeli Corporation purchased 12,500 shares of treasury stock at $30 per share. The stock had a par value of $1.50 and had been issued at an average price of $128. How will this transaction affect the accounting equation?

Select one:

A. An increase to Treasury Stock for $375,000

B. A decrease to Common Stock for $100,000

C. An increase to Treasury Stock for $200,000

D. A decrease to Additional Paid-In Capital, Common Stock for $80,000

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