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What effect does this transaction have on revenue or expense

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Reference no: EM131128223

A corporation reacquires 10,000 shares of its own $25 par common stock for $450,000, recording it at cost. 

(a) What effect does this transaction have on revenue or expense of the period? 

(b) What effect does it have on stockholders' equity?

Reference no: EM131128223

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