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Question#02: a) Treasury stock is not an asset; it is essentially the same...

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Accounting

Question#02:
a) Treasury stock is not an asset; it is essentially the same as unissued capital stock. Do you
agree? Why or why not? Justify.
b) Washington Company has the following stockholders' equity accounts at December 31,
Common Stock ( $100 par value, authorized 8,000 shares) $480,000
Retained Earnings 294,000

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