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What the acquisition of the treasury shares

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Problem 1: In January 2014, Castro Corporation, a newly formed company, issued 10,000 shares of its $10 par common stock for $15 per share. On July 1, 2014, Castro Corporation reacquired 1,000 shares of its outstanding stock for $12 per share. The acquisition of these treasury shares

a. decreased the number of issued shares
b. increased total stockholders' equity
c. did not change total stockholders' equity
d. decreased total stockholders' equity

Problem 2: When allocating a transaction price to a specific performance obligation you:

a. use best measure of fair value that the company could sell the good or service on a standalone basis
b. all of these
c. base it on relative fair values
d. use their best estimate of what the good or service might sell for as a standalone unit

Reference no: EM132836570

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