Mega Corporation repurchased 1,000 shares of its $1 par value common stock for $8,000. The effect of this transaction on the accounting equation includes a(n) ______. (

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Answer:

Explanation:

Since in the question the shares are repurchased which impact the accounting equation in a negative manner

Accounting equation would be

Total assets = Total liabilities + Stockholder equity

The assets are decreased as it reduces the balance of cash account as well as it reduced the stockholder equity also by the same amount

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