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On December 1, 2021, Coronado Industries exchanged 48000 shares of its $10 par value common stock held in treasury for a used machine. The treasury shares were acquired by Coronado at a cost of $45 per share, and are accounted for under the cost method. On the date of the exchange, the common stock had a fair value of $60 per share (the shares were originally issued at $35 per share). As a result of this exchange, Coronado's total stockholders' equity will increase by
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On December 1, 2021, Coronado Industries exchanged 48000 shares of its $10 par value common stock he...
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