Business, 07.05.2021 18:20 angelamalcom2913
Jia Dragons decided in 2021 to discontinue accounting for reacquired common stock as treasury stock. Instead, going forward they will use the permanently retired method. At December 31st, 2020, prior to the change, Jia's balance sheet reported the following shareholders' equity (in millions): Common Stock, $1 Par $200 APIC 800 Retained Earnings 956 Treasury Stock (4 million shares at cost) (24) Total Equity 1,932 How should the company's shareholders' equity at 12/31/2020 be displayed on its 12/31/2021 balance sheet
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Jia Dragons decided in 2021 to discontinue accounting for reacquired common stock as treasury stock....
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