Keys, Inc. purchased 100 shares of its own common stock for $10 per share. The stock is now classified as ______ stock, a contra equity account, reported on the statement of sto…

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asked Apr 22, 2022 101k views

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Lokender Singh · Answer 1 · 2022-04-27T10:10:28+0000

Answer:

Treasury Stock

Step-by-step explanation:

A firm`s purchase of its own stock is known as Treasury Stock. This is a a contra equity account, that is reported on the statement of stockholder's equity.

Keys, Inc. purchased 100 shares of its own common stock for $10 per share. The stock is now classified as ______ stock, a contra equity account, reported on the statement of sto…

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