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When a company repurchases its own shares, known as treasury shares, it may choose to keep these shares for future sale or distribute them to executives. Alternatively, the company can retire the treasury shares, effectively canceling them and rendering them no longer issued. For example, a hypothetical company, Caffeinated Broccoli, issues 100,000 shares of common stock with a par value of $1 per share, generating $600,000. The company will debit its cash account, increasing it by the amount received from the share issuance. The summary outlines the accounting process associated with share repurchases and retired shares.
