Following Is the Shareholders' Equity Section of the Statement of Financial

question 8

Multiple Choice

Following is the shareholders' equity section of the statement of financial position of Brownlow Corporation: The entry to record Brownlow's repurchase and retirement of 1,000 of its common shares at $2 per share includes:

• A)a debit to Common Shares for $2,000.
• B)a debit to Common Shares for $1,000.
• C)a credit to Contributed Capital-Reacquisition of Shares for $1,000.
• D)a debit to Contributed Capital-Reacquisition of Shares for $1,000.

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