Acct 301 Business report for Costco Company discussion
Business Finance
Acct 301 Project part Three(part one and two is attached for your review)
The company I have chosen for my SEC 10-K project is Costco.
Please see link below.
https://www.sec.gov/Archives/edgar/data/909832/000…
Business Report
For your employer, evaluate your SEC 10-K Company.As a starting point, for project three:
Review financial statements as whole. Use the Notes to the Financial Statements to learn more about your company. What items are displayed in Other Comprehensive Income?
Does your company own treasury stock in the owners’ equity section? Is this value increasing or decreasing?Consider the journal entry approach to the purchase of treasury stock.Treasury stock is displayed on the balance sheet as a negative value in owners’ equity. This is because its normal balance is a debit but owners’ equity normal balances are credits. The Journal Entry to purchase Treasury Stock is only about the cost to acquire (ignores the par value):
Debit Treasury
Credit Cash
Why would a company purchase Treasury Stock?Review the 1004 page pdf book for Treasury Stock. The 1004 page book is a very good searchable pdf file.This is an easy answer where you enumerate the reasons.
Use the statement of owners’ equity to assist in your explanation of stock purchases by your SEC 10-K company. Compare activity in the three year period presented.
