value: 10.00 points E11-13 Recording and Analyzing Treasury Stock Transactions L

Question

value: 10.00 points E11-13 Recording and Analyzing Treasury Stock Transactions LO11-3 Rock Bottom Gold Company recently repurchased 7.13 million shares of its common stock for $42 per share. The intent of the repurchase was to increase earnings per share to be more in line with competitors Required: 1. Determine the impact of the stock repurchase on assets, liabilities, and stockholders' equity. (Negative amounts should be indicated by a minus sign. Enter your answers in whole dollars not in millions i.e., 1,000,000 not 1.0).) Assets Liabilities Stockholders' equity

Explanation / Answer

1 Assets -299460000 =7130000*42 Liabilities 0 Stockholders' equity -299460000 2 Treasury stock 299460000          Cash 299460000

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