Crossroads mall had 100,000 outstanding shares of common stock. on june 16, 2018, crossroads repurchased 20,000 shares of its own stock at $30 per share. on july 23, 2018, crossroads resold 10,000 shares at $28 per share. what net effect did the repurchase and the resell of common stock have on the accounting equation?

The net effect of the repurchase and reselling of the common stock will decrease the assets and stockholders' equity.

Explanation:

June 16, 2018 (repurchase of 20,000 stocks)

July 23, 2018 (reselling of 10,000 stocks)

After the repurchase and reselling of the common stock, the total assets decreased by $320,000 (cash account $280,000 - $600,000).

Equity also decreased by $320,000:

it was decent, could have been a little better.. how bout you lol.

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o