Numerous reasons-explain how corporation would account

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For numerous reasons, a corporation may reacquire its own shares. When a corporation does this, the CBCA requires that the purchased shares be cancelled.

Explain how a corporation would account for each of the following:

a. Purchase of shares at a price less than the carrying value of the shares

b. Purchase of shares at a price greater than the carrying value of the shares

c. The effect on net income.

Reference no: EM133208367

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