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Assuming the shares are held in the treasury

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Reference no: EM131131978

1. Kwun, Inc. purchases 1,000 shares of its own previously issued $5 par common stock for $12,000. Assuming the shares are held in the treasury, what effect does this transaction have on

(a) Net income,

(b) Total assets, 

(c) Total paid-in capital, and 

(d) Total stockholders' equity? 

Reference no: EM131131978

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